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Yoo was investigated over the deaths after a probe into the dead people's financial transactions showed some of their money was funneled to him. He was cleared of suspicions Vans For Girls Black And White that he was behind the suicides because of a lack of evidence, but was convicted on a separate fraud charge.
Yoo, 73, is a member of a group called the Evangelical Baptist Church, which critics say is a cult.
About 5,000 police officers, some wearing helmets and armed with plastic shields, raided the group's compound in Anseong, just south of Seoul, officers said on condition of anonymity, citing department policy.
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Four church members were detained for allegedly providing shelter to Yoo or helping him flee, police said. Another church member was detained for allegedly trying to obstruct the raid.
public views of the church grew following the 1987 deaths but church members have since focused on legitimate corporate activities, according to Tark Ji il, a professor of religion at Busan Presbyterian University. He said the church's membership is believed to be about 10,000.
The predecessor company went bankrupt in the late 1990s but Yoo's family continued to operate ferry businesses under the names of other companies, including one that eventually became Chonghaejin. The church has denied involvement.
Yoo, head of the now defunct predecessor of the ferry's current operator, Chonghaejin, allegedly still controls the company through a complex web of holding companies in which his children and close associates are large shareholders. The government has offered a $100,000 bounty for Yoo's eldest son, and one of his daughters was arrested in France late last month.
South Korean police launch raid on church compound in search for mysterious ferry owner
About 200 church members rallied against the raid, singing hymns, pumping their fists into the air and chanting slogans. A large banner hanging near them said, "We'll protect Yoo Byung eun even if 100,000 church members are all arrested." There were no reports of violence.
the size of about 30 soccer fields, is considered the church's headquarters and thousands of church members gather there for services on weekends. The area contains ranches, fields, a fish farm and an auditorium that can house up to 5,000 people, according to media reports.
have been after Yoo for weeks and are offering a $500,000 reward for tips about him.
The sinking, one of South Korea's deadliest disasters in decades, has caused an outpouring of national grief, and the country is undergoing national soul searching about public safety. Nearly two months after the sinking, 292 bodies have been recovered mostly students from a high school near Seoul and 12 people are still missing.
It was not clear whether Yoo was at the compound at the time of the raid. Police said they were still trying to find and detain more church members for allegedly aiding Yoo.
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