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Financial news
World Business Briefing: South Korea: Arrest Sought in Bank Sale Inquiry
Prosecutors made a second request for a warrant to arrest a former finance ministry official caught up in the sale of the Korea Exchange Bank to Lone Star Funds, a private equity fund in the United States. In making the request, the government added accusations of bribery and distorting evidence against the former official, Byeon Yang-ho. Mr. Byeon, who headed the financial policy bureau in 2003 when Lone Star acquired a 50.5 percent stake in Korean Exchange for $1.5 billion, is accused of conspiring to overstate the bank’s financial problems to reduce the price. The Seoul Central District Court plans to hold a hearing this week on the request for the arrest warrant. Lone Star canceled its plan last week to sell the stake to Kookmin Bank for $7.4 billion. Continue >>
Entertainment news
Richards 'shattered' by outburst
Ex-Seinfeld actor Michael Richards tells a US radio show that his racist tirade has left him "shattered". Continue >>
Fun news
Fire's back in the Cat
The '70s star who abandoned fame tells why he's singing again. Continue >>
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