police probe watchdog official over alleged involvement in loan scam
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

Police probe watchdog official over alleged involvement in loan scam

Arab Today, arab today

Arab Today, arab today Police probe watchdog official over alleged involvement in loan scam

Seoul - Yonhap

Police said Wednesday that they are investigating a financial watchdog official for his alleged involvement in a large-scale loan fraud by employees of a financially troubled affiliate of telecom giant KT Corp. The case involves employees of KT ENS Co., a subsidiary of the country's No. 2 mobile operator KT Corp., illegally taking out some 1.83 trillion won (US$1.71 billion) in loans from 16 local banks with forged documents between May 2008 and January 2014, the Seoul Metropolitan Police Agency (SMPA) said.

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