A former police chief was acquitted Wednesday of charges he received bribes from an owner of a local construction firm, citing a lack of evidence.

The Busan District Court found Cho Hyun-oh, the ex-commissioner of the National Police Agency, not guilty of receiving 50 million won ($40,700) from the owner of the firm, identified only by his surname Chung, at Cho's office and a local hotel restaurant in 2010 and 2011, respectively.

The court said there seems to be a lack of trust between the two to exchange such an amount of money, as they had only met four to five times in total.

"It is far from common sense that Chung would have handed over the money at Cho's office at a time when the former police chief was preparing for a hearing, with a lot of journalists, closed-circuit TVs and staffers around," the court said.

Citing changes in Chung's statements, the court also said his testimonies lack credibility.

Prosecutors said they will appeal to a higher court.

Cho, who was in office from 2010 to 2012, served an eight-month jail term for making defamatory remarks against late President Roh Moo-hyun.

He claimed in 2010 that large amounts of money found in a bank account under another person's name prompted Roh to commit suicide.

Roh jumped off a cliff to his death behind his retirement home in May 2009, a year after leaving office, amid a widening probe by prosecutors over allegations that members of his family accepted illicit funds. (Yonhap)