[THE INVESTOR] Seoul police raided the head office of CJ HelloVision, the nation’s leading cable TV service provider, Wednesday on an allegation the company inflated numbers in tax statements worth 23 billion won ($20.7 million).

The special investigation unit within the Korea National Police Agency seized accounting documents and statements on sales plan from the company’s office in Sangam-dong, northwestern Seoul. Investigators plan to summon company officials for questioning later.

The police suspect the company fabricated tax statements by overcharging its regional offices or contractors between 2013 and 2014 to receive the pay difference later on. The head office of the cable TV service provider is suspected of being involved in the process.

“The probe is to verify whether CJ HelloVision fabricated its sales numbers by issuing or receiving false tax statements without trading actual goods,” said an investigator.

CJ HelloVision denied its alleged role in the case and said it would clarify its position to the police.

“We had discovered that the clients to (our) regional office had problems while operating a small-scale project in 2014. (Then) we suspended the projects and established rules to strengthen (the company’s) control,” the company said.

“We will explain that we were not directly involved in the case, though we may be held responsible for negligence.”

By Cho Chung-un/The Korea Herald (christory@heraldcorp.com)