US chases money linked to South Korea dictatorBy AP News Apr 25, 2014 10:48AM UTC
NEWPORT BEACH, California (AP) — U.S. authorities want to seize more than $700,000 from the sale of a Southern California home they contend was bought with corrupt money from South Korea’s former dictator.
Chun Jae Yong, the son of former President Chun Doo-hwan, bought the Newport Beach home in 2005. After its sale in February, U.S. officials seized the proceeds, and a civil forfeiture complaint was filed Thursday in Los Angeles federal court.
Chun Doo-hwan seized power in a coup and ruled until 1988. He was arrested in 1995 and sentenced to death for corruption, mutiny and treason but was later pardoned.
He was ordered to pay back about $203 million in bribes but returned only a portion.
Chun’s family announced last year that it will hand over real estate and other assets to the South Korean government.