(MENAFN) Customs officials raided the headquarters of Korean Air Lines Co. and the residence of the chairman and his three children on Saturday to look into allegations that the owning family didn't pay duties on luxury goods brought into the country.
An official from the Korea Customs Service said: "We searched for evidence related to allegations of smuggling foreign goods and duty evasion; it is the first time that customs officials have raided the owning family of a local conglomerate."
Police recently raided the 35-year-old executive's office and banned her from leaving the country, as her case drew public anger against the elite families of powerful businesses as she is the younger sister of Cho Hyun-ah, who made headlines four years ago for the high-profile "nut rage" scandal.
If the Cho family members are found guilty of having brought in luxury items without paying sales tax, they can face maximum sentences of five years and fines up to 10 times the duties evaded.
MENAFN2104201800450000ID1096750568
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.