'Embezzlement and Breach of Trust' Chairman Lee Jung-geun of Booyoung Sentenced to 2 Years and 6 Months in Second Trial... Sentenced to Prison

[Image source=Yonhap News]

[Asia Economy Reporter Song Seung-yoon] Lee Joong-geun, chairman of Booyoung Group, who was sentenced to five years in prison in the first trial on charges of embezzlement and breach of trust amounting to 430 billion won, received a reduced sentence of two years and six months in the appellate court. Immediately after the sentencing, Lee was detained in court as his bail was revoked.

The Criminal Division 1 of the Seoul High Court (Presiding Judges Jeong Jun-young, Kim Se-jong, Song Young-seung) on the 22nd sentenced Lee to two years and six months in prison and a fine of 100 million won in the appellate trial for violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement) and other charges.

Although Lee received a reduced sentence in the second trial, he was immediately detained in court due to the actual prison sentence. Previously, the first trial court sentenced Lee to five years in prison and a fine of 100 million won but did not detain him in court to guarantee his right to defense.

In the previous second trial sentencing hearing, the prosecution stated, "(Lee’s) health condition is not such that incarceration is impossible," and requested the court to sentence him to 12 years in prison, the same as the original prosecution demand, arguing that some charges acquitted in the first trial should be judged guilty.

At that time, Lee appealed to the court for leniency, saying, "I am now old and physically uncomfortable, and I am not sure how much longer I can work, but I intend to reform the compliance audit system to prevent such incidents from recurring, build a company that lasts for a long time, and retire," and "I hope to be given a chance to finally settle the company I have built throughout my life."

Lee was tried on 12 charges including embezzlement and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes amounting to 430 billion won, tax evasion, violation of the Fair Trade Act, bid rigging, and violation of the Rental Housing Act. The amounts recognized in the first trial were embezzlement of 36.65 billion won and breach of trust of 15.69 billion won, among others.

This content was produced with the assistance of AI translation services.