April 17, 2024

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[THE INVESTOR] Police raided Samsung C&T headquarters on Oct. 18 to probe suspicions that company money was used to pay for remodeling expenses at residences of Samsung Electronics Chairman Lee Kun-hee.

Investigators searched Samsung C&T’s construction division to seize documents related to remodeling projects. Police suspect that billions of won (millions of dollars) in company money was used to fund the remodeling of the Lee family residences.

Samsung is suspected of making payments from accounts created under borrowed names between 2008 and 2015. In August, police raided the management office that administers the residences and seized related documents.

Police said they plan to call in company officials for questioning after scrutinizing the seized documents.

By Alex Lee and newswires (alexlee@heraldcorp.com)