Fugitive billionaire found dead

SOUTH KOREA (NEWSCHANNEL 3) - The massive manhunt for a fugitive billionaire linked to the deadly ferry sinking in South Korea is now over.

Billionaire Yoo Byung-Eun had been missing for months following the disaster that killed 292 people.

But Tuesday morning official tests confirm a decomposing body found June 12th in a plum orchard is Yoo.

He was wanted in connection with an investigation into alleged embezzlement and tax evasion that prosecutors say may have factored into the ferry sinking in April.

The cause of his death is now under investigation.