U.S. says it helps recover $28.7 million tied to former South Korean president

Reuters News
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Posted: Mar 04, 2015 2:46 PM

WASHINGTON (Reuters) - The U.S. Justice Department said on Wednesday it had worked with South Korean authorities to recover more than $28.7 million in corruption proceeds linked to former South Korean President Chun Doo Hwan.

More than $1.2 million will be forfeited to the United States. Chun was convicted in a South Korean court in 1997 for accepting more than $200 million in bribes. He laundered some of those funds through trusts and shell companies in the United States, the Justice Department said.

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(Reporting by Emily Stephenson; Editing by Eric Beech)