'5 Billion Won Embezzlement and Tax Evasion' MB Brother-in-law's Wife Kwon Young-mi Receives Suspended Sentence in First Trial

Former President Lee Myung-bak, who was indicted on charges including embezzlement of DAS funds and bribery and sentenced to 15 years in prison in the first trial, is attending the final hearing held at the Seoul High Court in Seocho-gu, Seoul, on the 8th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Seongpil Cho] Kwon Young-mi, the sister-in-law of former President Lee Myung-bak, was sentenced to a suspended prison term in the first trial for embezzlement and tax evasion involving 5 billion won.

The Seoul Central District Court Criminal Division 24 (Chief Judge So Byung-seok) sentenced Kwon to three years in prison with a five-year suspension and a fine of 80 million won at the sentencing hearing held on the 10th. The company Geumgang, which was jointly indicted under the corporate liability rule, was fined 30 million won. The court mostly recognized the allegations that Kwon received company money while being registered as an auditor of Geumgang without actually working. However, regarding the tax evasion charge of 660 million won in 2009, the court acquitted her, stating that Lee Young-bae, the former CEO of Geumgang who executed the tax evasion, did not appear to be aware of the act. The court also considered the fact that Kwon returned part of the embezzled money and paid all the evaded corporate taxes in sentencing.

Previously, Kwon was prosecuted on charges of embezzling 5 billion won under false salary claims from Geumgang, an affiliate of DAS, an auto parts company owned by former President Lee, and Hong Eun Planning, and evading corporate taxes amounting to 700 million won.

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