SEOUL, May 19 (UPI) -- South Korean prosecutors have reportedly banned MBK Partners Chairman Michael Byungju Kim from leaving the country as part of an investigation into the so-called Home Plus bond scandal.
MBK is one of Asia's top private equity funds, and Home Plus is South Korea's No. 2 discount chain.
Multiple local media outlets reported Monday that the Seoul Central District Prosecutors' Office requested the U.S. Ministry of Justice to impose a foreign travel ban on Kim and obtained approval. He is a U.S. citizen.
The measure follows an earlier move by the prosecution Saturday when Kim returned to Seoul from London. Authorities executed a search and seizure warrant upon his arrival in Korea, confiscating his mobile phone and other digital devices as evidence, according to reports.
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