Imprisoned Lee Sang-jik Denies Embezzlement and Breach of Trust Charges... Prosecution to Indict Next Week

[Image source=Yonhap News]

[Asia Economy Reporter Bae Kyunghwan] The prosecution is reportedly planning to indict independent lawmaker Lee Sang-jik (Jeonbuk Jeonju-eul), who is accused of embezzlement and breach of trust related to Eastar Jet, next week.

On the 7th, during the trial of Eastar Jet finance executive Mr. A held at the Jeonju District Court's 11th Criminal Division (Presiding Judge Kang Dong-won), the prosecution stated, "Lawmaker Lee, who is in custody, denies the charges," and announced plans to indict him next week on charges of embezzlement and breach of trust.

Mr. A was indicted on charges including selling approximately 5.2 million shares (about 54 billion KRW) of Eastar Jet, held by Eastar Jet Group affiliates, to a specific affiliate for about 10 billion KRW in December 2015, causing the company a loss of approximately 43 billion KRW. The prosecution arrested lawmaker Lee Sang-jik as an accomplice in this case on the 28th of last month.

On this day, the prosecution explained, "They are shifting responsibility onto each other and demanding confrontation," adding, "The main charges involve low-price stock sales and transfers, but testimonies between the parties conflict, and evidence has even been fabricated and submitted." They further requested the court to reject Mr. A's bail application, stating, "The testimonies of the parties involved are key evidence, and if Mr. A is released, there is a possibility that his testimony will change."

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