‘Bribery’ Yoo Jae-su, Supreme Court Decision on 31st... Suspended Sentence in Appeal Trial

Former Financial Services Commission Policy Director Received Tens of Millions in Bribes... Suspended Prison Sentences in Both First and Second Trials

Former Busan Deputy Mayor for Economic Affairs Yoo Jae-su [Image source=Yonhap News]

[Asia Economy Reporter Heo Kyung-jun] The Supreme Court's ruling on former Busan Deputy Mayor for Economic Affairs Yoo Jae-soo, who was prosecuted for accepting bribes from related companies while serving at the Financial Services Commission, will be announced on the 31st of this month.

According to the legal community on the 14th, the Supreme Court's First Division (Presiding Justice Kim Seon-su) has set the sentencing date for former Deputy Mayor Yoo, who faces charges of bribery, breach of trust after bribery, and violation of the Improper Solicitation and Graft Act, for the 31st.

Former Deputy Mayor Yoo was prosecuted in December 2019 on charges including bribery, breach of trust after bribery, and violation of the Improper Solicitation and Graft Act for receiving bribes worth about 40 million won, including apartment payments and book costs, from four financial industry workers between August 2010 and November 2018 while serving as the Director of Policy at the Financial Services Commission, and engaging in corrupt acts.

The first trial sentenced former Deputy Mayor Yoo to 1 year and 6 months in prison with a 3-year probation, and a fine of 90 million won. A confiscation order of 42.21 million won was also issued. At that time, the court recognized both the job relevance and the quid pro quo nature of Yoo’s bribery charges but acquitted him of the breach of trust after bribery charges.

In the appeal trial, he was again sentenced to a suspended prison term, but some charges such as receiving cash under the pretext of book costs were acquitted, resulting in a slightly reduced sentence compared to the first trial: 1 year in prison with 2 years probation, a fine of 50 million won, and confiscation of about 21.08 million won.

Meanwhile, former Minister of Justice Cho Kuk, former Blue House Civil Affairs Secretary Baek Won-woo, and former Anti-Corruption Secretary Park Hyung-cheol have been prosecuted for allegedly covering up the investigation into former Deputy Mayor Yoo’s misconduct (abuse of authority and obstruction of exercise of rights), and their first trial is currently underway.

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