Police Conduct Search and Seizure at Homes of Yeongcheon City and Goryeong County Council Members Amid Speculation of Speculation
[Asia Economy Reporter Lee Gwan-ju] The police, who have launched an all-out investigation into real estate speculation allegations, have now conducted a search and seizure related to speculation suspicions involving local council members in the Gyeongbuk region.
The Gyeongbuk Police Agency's dedicated real estate speculation investigation team executed a search warrant on the residence and office of Council Member A from Goryeong County on the morning of the 18th.
A's children and siblings are suspected of purchasing land in the area where a development project in Goryeong has been underway since 2018.
The police also searched the home and office of Council Member B from Yeongcheon City the day before. B is suspected of earning several hundred million won in capital gains through land transactions in the Yeongcheon area over several years.
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B is reported to be denying the allegations raised against him.
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