Prosecution Seeks 6-Year Prison Sentence for Jo Beom-dong in Private Equity Fund Allegation Appeal Trial

[Image source=Yonhap News]

[Asia Economy Reporter Seongpil Cho] The prosecution has requested a 6-year prison sentence in the appellate trial for Cho Beom-dong, the 5th cousin of former Minister of Justice Cho Kuk, who is a key figure in the private equity fund suspicion.

The Seoul High Court Criminal Division 11 (Presiding Judge Gu Ja-heon) on the afternoon of the 15th requested the court to sentence Cho, who was indicted on charges including violation of the Capital Markets Act, to 6 years in prison and a fine of 50 million won, the same as the original sentence. The prosecution stated, "Please correct the illegality and unfairness of the original trial and consider all sentencing factors regarding the defendant."

Cho was indicted twice on charges of committing various crimes while effectively operating the private equity fund management company Kolink Private Equity (Kolink PE). The specific charges applied to Cho amounted to a total of 21 counts. Previously, the first trial recognized most charges including embezzlement as guilty and sentenced him to 4 years in prison and a fine of 50 million won. However, most of the allegations in which he was indicted as an accomplice with Professor Jeong Gyeong-sim of Dongyang University were not recognized as a conspiracy relationship.

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