Prosecutors carried out additional raids on Friday as part of its probe into allegations of dubious private equity fund investments by Justice Minister Cho Kuk's family members.

The Seoul Central District Prosecutors' Office raided Iksung, a Hyundai Motor subcontractor, which was invested in by the Cho family's fund operator Co-Link Private Equity, along with the offices of Iksung affiliate IFM.

Investigators also hit the home of the former head of IFM, surnamed Kim, who was earlier questioned by prosecutors.

Iksung is suspected of establishing Co-Link, whose de facto owner is believed to be Minister Cho's first cousin once removed, as part of a backdoor listing attempt to acquire an already listed company in order to go public.

The one-point-four billion won the Cho family invested in the fund went into Wealth C&T, a local lamppost switch manufacturer, which in turn was partly invested in by IFM.

Prosecutors also raided Cha University's School of Medicine in connection to Cho's daughter's alleged submission of false documents to get into prestigious universities. The daughter was rejected by Cha University.