The head of South Korea’s third-largest steelmaker appeared at the prosecutors’ office here Tuesday to face questioning over embezzlement charges.
Chang Sae-joo, the chairman of Dongkuk Steel, is suspected of misappropriating about 20 billion won ($18 million) from Dongkuk Steel by inflating the prices of raw materials the company purchased from abroad.
Prosecutors say Chang may have used the slush fund to gamble in Las Vegas, Nevada, and made billions of won, according to intelligence they gathered from U.S. law enforcement authorities.
It is the second time Chang has faced gambling charges. He was arrested by South Korean authorities in 1990 for gambling in Macau. (Yonhap)
