Prosecutors investigating CJ Group’s suspected creation of a slush fund and tax evasion said Tuesday that they have notified two to three employees of foreign financial institutions to appear for questioning to determine whether the conglomerate opened borrowed-name accounts in those institutions.
The food and entertainment conglomerate has been under an intense prosecution investigation into allegations that it has created a secret fund worth tens of millions of dollars, while evading taxes in the process.
The Seoul Central District Prosecutors’ Office has been tracking down up to nine borrowed-name accounts allegedly created by the conglomerate at three foreign lenders and brokerages, suspecting the accounts were used for money transfers and stock trading. (Yonhap News)