Prosecutors launched a raid on the head office of SK Networks amid speculation the trading company raised slush funds. 

The Seoul Central District Prosecutors’ Office sent prosecutors and investigators to ten locations on Tuesday morning to secure accounting records. This included the company’s head office in Seoul’s Jung district, key affiliates and the residence of the firm’s CEO Choi Shin-won. 

Prosecutors were handed the case from the Korean Financial Intelligence Unit after it detected a suspicious flow of funds at the company in 2018. 

Prosecutors suspect that SK Networks raised slush funds and its CEO embezzled company funds.