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South Korean police said on Friday it raided the headquarters of Korean Air Lines Co Ltd as part of an investigation into embezzlement and breach of trust.
Updated : Jul 07, 2017, 11:18 AM IST
South Korean police said on Friday it raided the headquarters of Korean Air Lines Co Ltd as part of an investigation into embezzlement and breach of trust.
A police official said it was a probe into allegations that company funds were used to pay for construction work at the home of Korean Air Chairman Cho Yang-ho. But he added that the investigation has not yet determined who the suspects were.
A Korean Air spokesman declined to comment. The firm's shares extended losses on the news to be down 3 percent as of 0524 GMT.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)