Prosecution Requests 25-Year Prison Sentence for Former Vice President Lee Jong-pil in 'Lime Scandal' Second Trial

Seoul Central District Court, Seocho-gu, Seoul. / Photo by Moon Honam munonam@

[Asia Economy Reporter Kim Daehyun] In connection with the 'Lime Asset Management Scandal,' which caused financial damage worth approximately 1.6 trillion KRW, the prosecution has requested a 25-year prison sentence for former Lime Vice President Lee Jongpil in the appellate trial.

On the 9th, the prosecution requested the court to sentence the defendant to 25 years in prison, impose a fine of 7 billion KRW, and order the confiscation of about 3.3 billion KRW at the appellate trial of former Vice President Lee held by the Seoul High Court Criminal Division 13 (Presiding Judges Choi Suhwan, Jung Hyunmi, Kim Jinha).

Former Lime CEO Won Mo, who was indicted alongside former Vice President Lee, was sentenced to 10 years in prison and fined 500 million KRW, while Lee Mo, who worked as the head of the marketing department, was sentenced to 7 years in prison and fined 300 million KRW.

Previously, former Vice President Lee and others were prosecuted on charges of hiding the fact that the International Investment Group (IIG) fund was in a difficult situation to generate profits due to insolvency and selling the fund despite knowing this. Former Vice President Lee is also accused of receiving about 1.4 billion KRW worth of valuables, including investments in the KOSDAQ-listed company Lead, luxury watches and bags, and leasing foreign cars, as bribes.

In the first trial, the charges of 'fund fraud' and 'rolling over bad debts' were tried separately, but in the appellate trial, the two cases were combined. The first trial sentenced former Vice President Lee to 15 years in prison and a fine of 4 billion KRW for fund sales fraud charges, along with a confiscation order of 1.44 billion KRW.For the 'rolling over' charges, he was separately sentenced to 10 years in prison, fined 300 million KRW, and ordered to confiscate about 77 million KRW.