Prosecutors launched a compulsory investigation into Ananti, a hotel and resort company, and Samsung Life Insurance following finding traces of exchanging money following buying and selling real estate by inflating real estate above the market price.
The Fair Trade Investigation Department of the Seoul Central District Prosecutor’s Office sent prosecutors and investigators to search and seize 10 locations, including the Ananti Hotel headquarters and executive homes, as well as Samsung Life’s headquarters and the homes of former real estate division executives and employees.
According to Ananti and Samsung Life Insurance’s public disclosure, Ananti sold land and buildings in Sincheon-dong, Songpa-gu, which it bought for 50 billion won in April 2009, to Samsung Life Insurance for 96.9 billion won in June, before even acquiring ownership, in two months. It left a profit of 46.9 billion won.
The prosecution is said to have captured the circumstances in which some executives and employees received back money from Ananti following Samsung Life bought real estate at a price higher than the market price.
