Prosecutors Seize More Assets of Ferry Owner

Prosecutors in Incheon who are investigating corruption charges against fugitive ferry owner Yoo Byung-eon and his family have applied for court approval to seize an additional W21.3 billion worth of their assets (US$1=W1,022).

Earlier, prosecutors froze W16.1 billion worth of assets belonging to Yoo and his family. The total amount of seized assets would account for 15.5 percent of the W240 billion they are accused of embezzling.

Among the additional assets prosecutors seek to freeze are 224 apartment units in Anseong south of Seoul valued at W19.9 billion and registered in the names of followers of Yoo's cult. They also include 16 properties registered to Yoo's eldest son, Dae-gyun, valued at W1.3 billion, as well as Mercedes Benz sedans and imported vans valued at W34 million.

A prosecution spokesman said 20 artworks and 122 antique watches on display at Yoo Dae-gyun's restaurant are also included, but their exact value is uncertain.

Meanwhile, prosecutors on Monday indicted an influential follower of Yoo's cult who turned herself in to authorities on Friday. She is believed to have played a key role in Yoo's escape. Yoo's older brother, who was arrested last week, was also indicted on charges of embezzlement.

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