Billionaire Sewol ferry owner found dead (VIDEO)

SEOUL, July 24 — The biggest manhunt in South Korean history officially came to a close as police began piecing together the last months of fugitive billionaire ferry owner Yoo Byung-un’s life, Reuters reported.

Following the sinking of the ferry Sewol in April, Police searched neighborhoods and posted wanted posters for Yoo.

Yoo’s wood cabin was searched in May, but police now say Yoo evaded detection by hiding behind a fake wall where two suitcases containing over a million US dollars were later found.

Police also raided a church compound founded by Yoo, going as far as excavating the ground to search for hidden tunnels.

On the same day as the church raid, a heavily decomposed body was found in a farmer’s field. Next to the corpse were empty alcohol bottles and a book written by Yoo.

It was only in late July, however, that authorities positively identified the remains of the billionaire businessman. The police chief supervising the case was fired over his handling of the investigation.

Policemen transport a stretcher with a body believed to be that of Yoo Byung-un, who headed the family that owned the operator of a ferry that capsized in April, killing more than 300 people, July 24, 2014. — Reuters pic
Policemen transport a stretcher with a body believed to be that of Yoo Byung-un, who headed the family that owned the operator of a ferry that capsized in April, killing more than 300 people, July 24, 2014. — Reuters pic

Yoo was 73 when he died. His family headed the company that operated the Sewol Ferry, which sank on April 16, claiming the lives of about 300 people, mostly school children.

After the sinking, Yoo became Korea’s most wanted man. — Reuters