이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Lotte Group chairman gets suspended sentence for embezzlement
- Collected
- 2017.12.24
- Distributed
- 2017.12.26
- Source
- Go Direct
The Seoul Central District Court on Friday delivered its verdict on the owner family, who were indicted last year on a string of management irregularities, including embezzlement and breach of trust.
The court sentenced the 95-year-old group founder Shin Kyuk-ho to four years in prison but allowed him to remain free on health grounds pending an appeal as he is suffering from dementia.
Shin Young-ja, the chairman’s elder sister and head of the Lotte Foundation, was given a two-year jail sentence while Seo Mi-kyung, the founder’s mistress, was sentenced to two years in prison and three years probation.
The four were convicted of causing Lotte Shopping 77.8 billion won ($72 million) in losses by illegally leasing out Lotte Cinema’s concession stand management rights to a company run by Shin Young-ja and Seo Mi-kyung.
Shin Dong-joo, the chairman`s elder brother and former vice president of Tokyo-based Lotte Holdings, was found not guilty of a charge of fraudulently collecting billions of won in salary from Lotte affiliates.
“We respect the court’s decision and will unite to contribute to economic progress and meet our social responsibility,” said Lotte Group in a formal statement.
The ruling comes at a critical time for the conglomerate as its retail businesses have suffered a major blow due to a diplomatic spat between Korea and China over Seoul’s installation of an antimissile defense system.
By Lee Han-na and Kim Hyo-jin
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]