Wednesday, May 17, 2006

SOUTH KOREAN FRAUD probe heats up -- "Yesterday wasn’t exactly a banner day for South Korean businessmen. First, news broke that the government indicted the chairman of Hyundai, one of South Korea’s most respected industrialists. The government charged Chung Mong Koo with embezzlement and misappropriation of corporate funds. Chung’s accused of creating a $110 million “slush fund” to bribe government and industry officials."