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U.S. returns $1.1 million in kleptocracy proceeds to South Korea

U.S. returns $1.1 million in kleptocracy proceeds to South Korea

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...

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