Prosecutors have launched a full-scale probe of political favor allegations surrounding a lucrative development project in Seongnam's Daejang-dong, raiding related companies and slapping travel bans on persons of interest. 

A dedicated team for the case began work on Wednesday, composed of 16 prosecutors. 

The Seoul Central District Prosecutors’ Office sent investigators to search the offices of asset management firm Hwacheon Daeyu, an affiliated company and the Seongnam Development Corporation. 

Prosecutors also put travel bans on key figures in the scandal, including Yoo Dong-kyu, a former senior official of the Seongnam Development Corporation. 

They plan to summon Yoo soon for questioning on the city’s process to select firms for the development project and its profit structure.