Wednesday, October 28, 2020

Prosecutors seek 23-year jail term for former South Korea president Lee Myung-bak in corruption case

-

The prosecution on Wednesday requested that an appeals court sentence former President Lee Myung-bak to 23 years in prison on bribery and embezzlement charges.

The requested sentencing by the prosecution is heavier than the 15-year jail term that a lower court handed down to Lee, president from 2008-2013, in October 2018.

The prosecution also demanded some 32 billion won (US$27.4 million) in fine and 16.3 billion won in forfeit for the ex-leader.

In March 2019, Lee was released on bail on health concerns after he was convicted of bribery and embezzlement in connection with his brother’s auto parts company DAS.

- Advertisement -

Demanding the heavier jail term, the prosecution condemned Lee for not repenting of his wrongdoings and blaming others to avoid responsibility.

“The defendant hampered the constitutional value by abusing (presidential) power bestowed by the people as means to seek personal profits,” the prosecution said.

“In consideration of the weight of the case and in comparison to other cases, the 15-year prison term is too light,” it said.

A lower court found that Lee was the de facto owner of DAS and that he used his presidential power to benefit the firm and himself, including accepting a 5.9 billion-won bribe from Samsung.

- Advertisement -

Throughout his political career, Lee was dogged by suspicions over whether he is the real owner of DAS.

In a court hearing, Lee flatly denied the allegations.

“History will evaluate the merit and demerits of the Lee Myung-bak administration. The prosecution is making the past government out to be corrupt and distorting political assessments,” Lee said.

Lee also repeated his claim that he is not the owner of DAS.

The Seoul High Court plans to deliver a ruling next month.

MUST READ

South Korea’s former Vice Justice Minister sentenced to jail for bribery and sexual favors

Former Vice Justice Minister Kim Hak-eui, the figure at the center of one of Korea’s biggest political sex scandals, was placed under pretrial detention...

Beam Suntory Inc. fined $19.6 million in foreign bribery case

Beam Suntory Inc. (Beam), a Chicago-based company that produces and sells distilled beverages, has agreed to pay a criminal monetary penalty of $19,572,885 to...

Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

South Korea’s former Vice Justice Minister sentenced to jail for bribery and sexual favors

Former Vice Justice Minister Kim Hak-eui, the figure at the center of one of Korea’s biggest political sex scandals, was placed under pretrial detention...

Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Guatemala seeks arrest of ex-minister linked to a $16m cash discovery

Guatemalan prosecutors are seeking the arrest of the former communications minister for ex-President Jimmy Morales on money laundering charges after finding a connection to...

Indonesia sentenced stockbroker to life over fraudulent investment scheme

Renowned stockbroker Benny Tjokrosaputro was sentenced to life by the Jakarta Anticorruption Court on Monday evening for his role in a major graft scandal...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks