Former Daeju Group Chairman Heo Jaeho Granted Conditional Bail... To Stand Trial Without Detention
Heo Jaeho (83), former chairman of Daeju Group, who was extradited after fleeing overseas for 10 years following charges of tax evasion, will stand trial without being detained.
According to the legal community on October 23, the 11th Criminal Division of the Gwangju District Court (Presiding Judge Kim Songhyun) granted Heo conditional bail ex officio. The bail conditions include payment of a deposit of 800 million won, appearance at specified dates and locations, and prohibition of any acts that could destroy evidence.
Heo has not yet been released, as procedures such as payment of bail remain. After being extradited from New Zealand on May 27, he has been held as a pretrial detainee at Gwangju Detention Center while standing trial. His detention period is set to expire next month.
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Heo was indicted in July 2019 on charges of violating the Act on the Aggravated Punishment of Specific Crimes, for failing to pay over 500 million won in capital gains tax when selling stocks held under the names of three acquaintances in 2007. The next trial is scheduled for November 10.
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