Police have raided locations linked to former Taekwang Group Chairman Lee Ho-jin over allegations of embezzlement and breach of trust.

Investigators from the Seoul Metropolitan Police Agency raided the ex-chairman’s home, a Taekwang-owned office in Seoul and Taekwang Country Club in Yongin on Tuesday morning to secure evidence related to the claims.

According to the police, Lee is suspected of having created slush funds worth over two billion won, or around one-point-five million U.S. dollars, through affiliates of the company.

The latest investigation comes just two months after he was granted a special presidential pardon and a reinstatement of his right to conduct business activities on the occasion of Liberation Day which falls on August 15th.

Lee had also previously served a three-year prison term for embezzlement, breach of trust and tax evasion before being released in October 2021.