[THE INVESTOR] The South Korean prosecution is looking into allegations of tax evasions against Lotte Group founder Shin Kyuk-ho, according to prosecutors on Aug. 3.

The team at the Supreme Prosecutors’ Office investigating Lotte affairs is reportedly reviewing documents it attained from a local law firm outlining the related allegations. 

Investigators suspect that the 94-year-old tycoon attempted to or has evaded taxes when he bequeathed parts of his assets to his third wife Seo Mi-kyung, who he is in a common-law relationship with, and a daughter they have together.

The law firm had provided legal consulting for the founder on these matters.

Shin is the founder of Lotte, and the father of current Lotte Group chairman Shin Dong-bin. 

The latest reports from the prosecution comes after the authorities began a sweeping investigation into allegations of embezzlement and breach of trust into Lotte in June. 

So far, one member of the Lotte founding family - Shin Young-ja, the daughter of Shin Kyuk-ho, has been arrested.

By Kim Ji-hyun (jemmie@heraldcorp.com)