show photos: Reports from the time of the ship's sinking claimed the gold on board could be worth upwards of 125 billion, a staggering amount Shinil later downgraded to a still respectable 8.9 billion at a press conference on July 26, according to CNN. Ahead of that press event, the company had hinted it would make a major announcement, perhaps even show photos and video of the gold on board. Shinil Group attracted global attention when it claimed last month to have discovered the Dmitri Donskoii, a 5,800-ton warship that had sunk during the 1905 Battle of Tsushima, in the waters between present-day South Korea and Japan. But nothing was forthcoming, and questions began to be raised over the veracity of previous images of the sunken ship put out by the company. Read More Attempts to reach Shinil were unsuccessful. The police raid, which occurred Tuesday morning officials confirmed, comes less than a week after police told CNN they were investigating the firm on suspicion of fraud and had banned senior company officials from leaving the country.
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