Body Of Fugitive Billionaire In South Korean Ferry Case Discovered
The body of a fugitive billionaire linked to a South Korean ferry disaster was discovered in a plum field by a farmer on June 12. The body was so badly decomposed that police had to use DNA and fingerprints to positively identify Yoo Byung Eun.
Prosecutors believe Yoo, 73, and his sons controlled the shipping company that operated the Sewol ferry, which capsized, killing 294 people aboard, reports CNN. Victims included hundreds of high school students who were on a field trip. Divers are still searching for bodies more than three months after the accident. Ten people remain missing.
Speaking through his representatives, Yoo denied any connection to the Chonghaejin Marine Company, which operated the deadly ferry. His defenders, which included members of his religious group, told the press and investigators that Yoo was made into a scapegoat for the tragedy.
The billionaire defied several summons to report to the prosecutor’s office for questioning for months after the sinking. He was wanted for questioning with an investigation into alleged funds embezzlement, tax evasion, and other irregularities that prosecutors say may have contributed to the sinkings.
Wanted posters cropped up for the fugitive billionaire and South Korea’s president even weighed in, accusing Yoo’s family of “mocking the law and causing public outrage.”
MSN News notes that the body of the billionaire linked to the ferry sinking was found in a field in the southern city of Suncheon. Local police station chief Wu Hyung-ho told a news conference that the body had decayed beyond recognition when it was found. An initial investigation showed no signs of foul play.
The billionaire’s body was found wearing a pair of expensive shoes and a luxurious Italian brand Loro Piana winter parka. Three empty Korean liquor bottles, a cloth bag, and a magnifying glass were discovered nearby. The state-run National Forensic Service took about 40 days to run the DNA tests and the lab is expected to conduct additional tests to find out when and how Yoo died.
Police and prosecutors were looking for Yoo since May and offered a $500,000 reward for tips that could lead to his whereabouts.
Prosecutors told reporters Monday that 139 people have been arrested over the ferry sinking, including all 15 crew members whose job it was to navigate the ship. Employees at Chonghaejin were also arrested over suspicions of improper stowage and overloading of cargo. Crew members face charges of negligence and failure to perform their duties to rescue passengers. Four crew members face homicide charges.
Yoo was head of the now-defunct predecessor Chonghaejin and allegedly still controlled the company through a complex web of holding companies. The predecessor company went bankrupt in the 1990s but Yoo’s family continued to operate ferry businesses under the names of other companies.
With the billionaire’s body found, prosecutors will likely turn their focus to his children, three of which are still on the run.
[Image by jinjoo2713]
