Court Sentences Haeduk Powerway Small Shareholders' Representative to 5 Years Imprisonment for 'Optimus CEO Extortion'... Sentenced in Court

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[Asia Economy Reporter Choi Seok-jin, Legal Affairs Specialist] The representative of Haeduck Powerway, a small shareholder of the ship equipment manufacturing company, who was indicted for threatening Kim Jae-hyun, CEO of Optimus Asset Management (Optimus), to extort money, has been sentenced to imprisonment.

The Seoul Central District Court Criminal Division 34 (Presiding Judge Heo Seon-ah) sentenced Mr. A, who was indicted on charges including blackmail under the Act on the Aggravated Punishment of Specific Economic Crimes, breach of trust, and forgery of private documents, to five years in prison on the 15th and ordered his immediate detention. The court also ordered Mr. A to pay a fine of 650 million won.

The court stated, "The defendant appears to have a significantly lacking sense of compliance, showing a willingness to use any means to achieve his goals," and criticized, "He frequently committed illegal acts, and the method and nature of the crimes are very serious."

It continued, "Considering that the defendant gained substantial benefits, shows no sincere remorse, and that many victims are demanding severe punishment, the sentence was determined accordingly."

Mr. A was indicted for threatening to criminally accuse CEO Kim in relation to the no-capital acquisition of Haeduck Powerway and extorting 1.05 billion won. The court recognized guilt for 750 million won of the blackmail charges presented by the prosecution.

Mr. A is also accused of receiving 650 million won from CEO Kim in connection with illicit requests regarding the exercise of voting rights at the shareholders' meeting and threatening former Haeduck Powerway CEO Mr. B, as well as forging and submitting petitions from small shareholders to the court. The court found Mr. A guilty of breach of trust, threats against Mr. B, and forgery and use of petitions. However, the court acquitted him of charges related to receiving 300 million won in exchange for not filing a complaint against CEO Kim.

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