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S.Korea president's son to face tax probe over retirement home deal

Published on Nov 14, 2012 10:29 AM
 
South Korean special counsel Lee Kwang-Bum (left) announces the outcome of a probe into alleged irregularities in the purchase of a retirement home for President Lee Myung-Bak in Seoul on Nov 14, 2012. South Korean prosecutors said on Wednesday they had uncovered evidence of possible tax evasion by President Lee Myung-Bak's only son as they handed down indictments over a deal to build Lee's retirement home. -- PHOTO:

SEOUL (AFP) - South Korean prosecutors said on Wednesday they had uncovered evidence of possible tax evasion by President Lee Myung-Bak's only son as they handed down indictments over a deal to build Lee's retirement home.

Although Lee Si-Hyung was not among the three people indicted, prosecutors said his records would be referred to the tax authorities on suspicion that he had avoided paying tax on family loans to purchase land for the home.