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Wednesday April 23, 2014 MYT 1:18:00 PM
Wednesday April 23, 2014 MYT 1:20:25 PM
The disaster has stunned South Korea where there has been widespread public anger directed at the ferry company and crew, the rescue coordinators and the government in Seoul.
The Sewol's captain, Lee Joon-Seok, and six crew members are under arrest with two other crew taken into police custody on Tuesday.
On Wednesday morning, prosecutors raided a host of businesses affiliated with the ferry operator - the Chonghaejin Marine Company.
The raid was part of a probe into "overall corruption in management", Kim Hoe-Jong, a prosecutor on the case, told AFP.
More than 70 executives and other people connected with Chonghaejin and its affiliates have been issued 30-day travel bans while they are investigated on possible charges ranging from criminal negligence to embezzlement.
Captain Lee and his surviving crew members have been pilloried in the media for abandoning the ship while hundreds remained trapped inside.
President Park Geun-Hye has described their actions as being "tantamount to murder".
There has been particular criticism of Lee's decision to delay the evacuation order until the vessel was listing so sharply that escape had become almost impossible.
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