People form a yellow ribbon dedicated to dead and missing passengers onboard the sunken Sewol ferry at Seoul City Hall Plaza in Seoul May 16, 2014. REUTERS/Park Dong-ju/Yonhap
SEOUL (Reuters) - South Korean prosecutors said on Friday they were seeking a warrant for the arrest of Yoo Byung-un, the head of the family that owns the operator of a ferry that capsized last month.
Prosecutors accused Yoo of embezzling funds from ferry operator Chonghaejin Marine, which they see as one of the factors that hampered its safety management, and led to the sinking that killed hundreds of school children.
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