Dulwich College raided for allegedly embezzling funds

The Seoul Central District Prosecutors' Office / Korea Times file

Prosecutors have raided a foreign school in southern Seoul for allegedly embezzling billions of won in school funds, JoongAng Ilbo reported Thursday.

The Seoul Central District Prosecutors' Office seized documents at Dulwich College School in Seocho-dong that showed the money was allegedly sent to an offshore account.

The school is suspected of creating a paper company and sending funds there to evade tax.

The school is a branch of Dulwich College, a boys’ day and boarding school based in London.

The school's tuition is 30 million won ($25,800) a year. It opened in 2010 and has 592 students, a quarter of whom are Koreans.

In 2012, Dulwich was caught for admissions fraud involving 16 students.