BUSINESS

Prosecutors demand 14-year jail term for Lotte chief

By Yonhap
  • Published : Aug 29, 2018 - 16:04
  • Updated : Aug 29, 2018 - 16:04

Prosecutors on Wednesday demanded an appeals court sentence Lotte Group Chairman Shin Dong-bin to 14 years in prison on charges of bribery and other irregularities.

They also demanded the court order him to pay a 100 billion-won ($90 million) fine and forfeit 7 billion won.

Shin is serving a 30-month jail term on the bribery conviction in connection with a massive corruption scandal involving ousted President Park Geun-hye and her friend, Choi Soon-sil.

The lower court in February found Shin guilty of providing 7 billion won to two nonprofit foundations controlled by Choi in return for presidential favors regarding Lotte's duty-free business. 


Lotte Group Chairman Shin Dong-bin (Yonhap)

Shin was also indicted on the charge of breach of trust for causing some 130 billion won in losses to the conglomerate by letting some of Lotte subsidiaries owned by his family members earn easy money. Shin received a suspended jail term for this case.

Prosecutors on Wednesday demanded 10 years for Lotte founder and Shin's father Shin Kyuk-ho, and five to 10 years for his elder brother, half sister and senior Shin's mistress.

Prosecutors had demanded 10 years for the chairman for the managerial malpractices and four years for bribery. They argued in Wednesday's hearing Shin must be held accountable for the negligence charge as well and that the appeals court should hand down a heavier punishment.

Shin has pleaded not guilty, saying the money given to Choi was donated by Lotte as part of its philanthropy work and had nothing to do with its duty-free business.

As for the management irregularities, the chairman has insisted all decisions were made by his father, and he had to follow his orders.

The Seoul High Court is expected to deliver its ruling around early October. (Yonhap)



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