Arab Today, arab today moneual chief suspected of evading taxes creating slush fund
Last Updated : GMT 22:49:43
Arab Today, arab today
Arab Today, arab today

Moneual chief suspected of evading taxes, creating slush fund

Arab Today, arab today

Arab Today, arab today Moneual chief suspected of evading taxes, creating slush fund

Professor Hong-Seok Park (4-L)
Seoul - Yonhap

The chief executive of Moneual, a small-sized home appliance manufacturer that abruptly declared bankruptcy earlier this month, was accused Friday of dodging taxes and operating slush funds through a paper company overseas, using the money for personal luxuries.
The Korea Customs Service (KCS) said Park Hong-seok, the founder of the company, is suspected of accumulating some 44.6 billion won (US$421.8 million) in secret funds through a paper company established in Hong Kong.

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