S-Korea ferry disaster: Reward for owner increased to $500,000

Seoul, South Korea: South Korea has boosted to half a million dollars a reward for tips about the mysterious billionaire who prosecutors say owns a ferry that sank last month. The ten-fold increase in the reward comes as officials struggle to find Yoo Byung-eun on allegations of tax evasion and embezzlement. Prosecutors said Monday that a failure to spend enough money on safety may be a reason for the April 16 sinking. [caption id=“attachment_1509141” align=“alignleft” width=“380”] South Korean student Park Jae-hee, 24, cries after she pays her tribute to the victims of the sunken ferry Sewol near yellow ribbons as signs for cherishing the memory of deceased persons. AP[/caption] The sinking of the Sewol ferry left more than 300 people dead or missing, most of them high school students. The $500,000 bounty is the same amount given if a South Korean citizen provides information about a North Korea-dispatched spy. Police are also offering a bounty of $100,000, up from $30,000, for Yoo’s eldest son. He faces embezzlement allegations. Associated Press