On the 12th, the 11th Criminal Division of the Jeonju District Court (Chief Judge Kang Dong-won) sentenced and arrested Lee, who was charged with violating the Act on Aggravated Punishment of Specific Economic Crimes, and sentenced him to six years in prison. It has been more than two months since he was released on bail on October 28 last year.
The court also sentenced Lee Star Air’s finance team leader and Lee’s nephew A to three and a half years in prison and Choi Jong-koo, former CEO of Eastar Jet, sentenced to two years in prison and three years of probation. The other four co-defendants were also sentenced to six to two years in prison and two to three years of probation.
Rep. Lee was indicted on charges of selling 5.2 million shares of Eastar Jet worth 54 billion won in November to December 2015 to Eastar Holdings, where her children are shareholders, at a low price, causing 43 billion won in property damage to Eastar Jet. As a result, the prosecution believes that Eastar Holdings, which is represented by the daughter of lawmaker Lee, earned 11.2 billion won in profits.
Rep. Lee is also accused of arbitrarily raising or lowering the value of the bonds held by Eastar Jet affiliates between 2016 and 2018 and causing damage to the affiliates worth about 5.6 billion won by repaying their debts early. He was found to have stolen 5.36 billion won from the company while effectively owning Eastar Jet and its affiliates, and used this money for his brother’s court deposit, his daughter’s Porsche deposit, rent and insurance, and overseas luxury shopping.
In addition, after being elected as the regional chairperson of the Democratic Party of Jeonju in July 2016, the prosecution found that he obtained an office in a building in Wansan-gu, Jeonju and operated the regional committee office. The current law stipulates that no one other than a political party may have an office, such as a party member’s council, for the operation of a city or provincial party sub-organization.
The court ruled, “As the head of the company, the defendant substantially controlled Eastar Jet and its affiliates and privatized the company.” He continued, “The crime of selling the stock at a low price was done in such a way that Eastar Holdings, whose only the defendant’s children were shareholders, became the major shareholder of Eastar Jet.” acknowledged,” he explained.
Regarding the charge of breach of trust due to early repayment of bonds, he added, “The main purpose of early repayment was for the personal benefit of the accused.
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