[THE INVESTOR] Police raided the headquarters of CJ Hellovision on Oct. 5 over a suspicion of fabricated tax returns worth 23 billion won (US$20.60 million).

CJ Hellovision may have overstated its sales by overcharging regional offices for commodities, investigators said. Police currently suspect the firm’s headquarters was directly involved in the fabrication.

“The investigation aims to verify whether CJ Hellovision exaggerated its sales through issuing false tax statements without an actual exchange of goods,” a law enforcement official said. 

“We already completed investigation on regional offices, and we plan to summon officials from headquarters.”

During the raid, the police secured accounting documents and other related files for analysis.

(theinvestor@heraldcorp.com)