'Lead Former Vice Chairman Accused of Embezzlement of 80 Billion Won to Receive First Trial Verdict Today'

Prosecution Demands 10-Year Prison Sentence and 15 Billion Won Fine at Sentencing Trial

[Asia Economy Reporter Yoo Byung-don] The first trial verdict for former Vice Chairman Park of Lead, a KOSDAQ-listed company, who is accused of embezzling hundreds of billions of won in company funds, will be held on the 24th.

The Seoul Southern District Court Criminal Division 12 (Chief Judge Oh Sang-yong) will conduct the first trial sentencing hearing at 10 a.m. on the same day for Park and five others, who were indicted on charges including violation of the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement).

At the previous sentencing hearing, the prosecution requested the court to sentence former Vice Chairman Park to 10 years in prison, a fine of 15 billion won, and confiscation of 3.46 billion won. During the sentencing hearing, Park testified that Lead had been operated according to the intentions of former Lime Asset Management Vice President Lee Jong-pil since 2018.

The prosecution also sought prison terms of 3 to 6 years for five former and current Lime executives indicted together. Among them, they requested a 6-year prison term for Mr. Koo and a 5-year prison term for Mr. Kim, along with a fine of 11 billion won.

According to the prosecution, they acquired Lead, a KOSDAQ-listed company, through KONEX-listed Company A in 2016 and embezzled approximately 80 billion won in company funds.

Meanwhile, the prosecution viewed former Vice President Lee as involved in the 80 billion won embezzlement case at Lead and requested an arrest warrant last November. However, Lee disappeared without appearing at the pre-arrest detention hearing and was apprehended by the police on the 23rd.

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