Prosecutors raid CJ chairman’s home in tax, slush fund probe
May 29, 2013
Prosecutors investigating allegations of tax evasion and a slush fund formed by CJ Group raided the home of the group’s chairman Lee Jay-hyun on Wednesday.The investigators also raided the headquarters of Shinhan Bank over the 24 billion won ($21 million) loan the bank gave to Pan Japan, a Japan-based company said to be operated by the chief of CJ Group’s Japanese branch. Ahead of the raid on the bank, an employee of Shinhan Bank’s Tokyo branch was summoned for questioning on Tuesday. Along with