'Embezzlement and Breach of Trust' Private Contractor in Baekhyeon-dong: "There Are Aspects That Make Fully Admitting It Unfair"
A private developer in Baekhyeon-dong, who was indicted on charges of embezzlement and breach of trust involving hundreds of billions of won, stated in court that "there are aspects that make it unfair to fully admit the charges as they stand."
On the 1st, at the first trial held at the Seoul Central District Court Criminal Division 27 (Presiding Judge Kim Ok-gon), the lawyer for Asia Developer Chairman Jung Ba-ul said, "Legally, embezzlement and breach of trust do not apply, or there are errors in the amount of the charges."
The lawyer argued that the allegation of paying 7.7 billion won to Kim In-seop, former CEO of Korea Housing Technology, who was identified as the 'lobbyist for permits' in the Baekhyeon-dong project, was partly a loan.
He further emphasized that some of the amounts labeled as 'false salaries' in the indictment were actually payments employees received for their work, and that Chairman Jung’s donations to nonprofit organizations cannot be considered breach of trust.
The court requested Chairman Jung’s side, "If you acknowledge most of the charges but claim the specific amounts are incorrect, please calculate and submit the amounts you consider accurate."
Chairman Jung was arrested and indicted in June on charges of embezzling and breaching trust of a total of 48 billion won from July 2013 to last March through Seongnam R&D PFV, the Baekhyeon-dong development project company, and his own companies Asia Developer and Younglim General Construction.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Don't Throw Away Coffee Grounds" Transformed into 'High-Grade Fuel' in Just 90 Seconds [Reading Science]
- "Am I Really in the Top 30%?" and "Worried About My Girlfriend in the Bottom 70%"... Buzz Over High Oil Price Relief Fund
- The Unexpected Story of an American Man Who Won the Lottery 18 Times in 29 Years: "My Real Luck Is My Wife"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
The prosecution believes that during the Baekhyeon-dong development project, Chairman Jung embezzled company funds and gave them to former CEO Kim as a bribe for facilitating permits with Seongnam City. Chairman Jung also testified as a witness in July at the trial of former CEO Kim on charges including special bribery, stating that "it is true that the embezzled funds were paid to former CEO Kim as a bribe for facilitation and solicitation."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
