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THE INVESTOR
November 13, 2018
Big Reunion

Retail & Consumer

Prosecutors demand 14-year jail term for Lotte chief

  • PUBLISHED :August 29, 2018 - 16:36
  • UPDATED :August 29, 2018 - 16:36
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[THE INVESTOR] Prosecutors on Aug. 29 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 (US$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‘’ duty-free business.

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 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.

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

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

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