US Returns Over $1 Million in Seized Funds from Chun Doo-hwan’s Son

There is probably plenty of more ill gotten funds that the Chun family has that hopefully prosecutors continue to go after:

U.S. prosecutors this week returned more than $1.1 million in seized assets linked to South Korea’s disgraced former president, Chun Doo-hwan, the Department of Justice said Tuesday.

The $1,126,951.45 was seized through forfeiture actions in Southern California and Philadelphia, where authorities found a tony white clapboard home in Newport Beach and a secured investment in a Pennsylvania company linked to Chun’s son, Chun Jae Yong.

The younger Chun has admitted to South Korean prosecutors that the funds came from his father, according to a complaint in the U.S. forfeiture case.

The sum seized by prosecutors here is a sliver of the $229 million of the criminal restitution Chun was ordered to pay by South Korean courts in 1996 for ill-gotten gains amassed through bribes from corporations such as Samsung, Hyundai and LG during his eight years as president in the 1980s.  [LA Times]

You can read the rest at the link.