Police have launched a forced investigation into Shin Poong Pharmaceutical, which is suspected of raising a large amount of slush funds.
According to the police on the 24th, the financial crime investigation team of the Seoul Metropolitan Police Agency has sent investigators to the finance team and computer team at Shin Poong Pharmaceutical's headquarters in Gangnam-gu, Seoul, and its plant in Ansan, Gyeonggi Province.
The police will secure data such as company computer hard disks and various transaction documents through seizure search. Police have reportedly detected illegal charges earlier this year and have been conducting an internal investigation.
Police believe Shinpoong Pharmaceutical Co. formed a slush fund by conspiring with a drug raw material company and manipulating transaction details.
Earlier in June, the National Tax Service dispatched three central regional tax offices to conduct a special tax investigation at Shinpoong Pharmaceutical's headquarters in Ansan, Gyeonggi Province.
At that time, the National Tax Service reportedly investigated the details, believing that Shinpoong Pharmaceutical evaded taxes and created slush funds.
Reporter Lee Ji-sun stockmk2020@gmail.com