The Korea Herald

피터빈트

Prosecution seeks 18-month jail term for Sewol owner’s wife

By Korea Herald

Published : Nov. 24, 2014 - 21:27

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Prosecutors sought an 18-month prison term Monday for the wife of the late shipping tycoon blamed for April’s ferry disaster for embezzlement.

Kwon Yun-ja ― the wife of Yoo Byung-eun, the late 73-year-old religious figure and ex-convict whose family owns ferry operator Chonghaejin Marine Co. ― was indicted on charges of embezzling funds from the religious sect in which the owner family remains as an influential member.

Prosecutors allege that Kwon helped her younger brother, Kwon Oh-kyun, funnel funds worth nearly 30 billion won ($29 million) into his business after taking out loans using as collateral assets belonging to the Evangelical Baptist Church in 2010.

The prosecution also demanded a five-year prison term for the younger Kwon, without giving further reasons.

“I offer my apology about the Sewol tragedy,” the wife said during a hearing on the case at the Incheon District Court.

The 6,825-ton ferry Sewol sank in waters off the southwestern island of Jindo on April 16 en route to the southern resort island of Jeju. Of the total 476 people on board, only 174 were rescued while the others, mostly high school students on a school trip, perished.

The court is scheduled to deliver rulings on the two Dec. 17.

Meanwhile, a close aide to Yoo who has been sought in a manhunt for nearly seven months has notified prosecutors that he will turn himself in, prosecutors said.

Kim Pil-bae, a former chief of Moonjin Media, is suspected of embezzling company funds worth tens of billions of won by colluding with Yoo Hyuck-ki, the deceased tycoon’s second son, prosecutors said.

“Kim is expected to return to his home country sometime soon,” said a prosecutor of the Incheon District Prosecutors’ Office, adding that the prosecution is not yet sure of the exact date.

Kim entered the U.S. in April on a 90-day visa waiver program and has since been holed up there.

Upon arrival in his home country, he will be immediately arrested with a court-issued warrant, prosecutors said. (Yonhap)