Prosecutors Demand 10-Year Prison Sentence in 2nd Trial for Lee Sang-jik on Charges of Embezzlement and Breach of Trust at Eastar Jet

Lee Sang-jik, former lawmaker and founder of Eastar Jet, accused of 'embezzlement and breach of trust' [Image source=Yonhap News]

[Asia Economy Reporter Kim Daehyun] The prosecution has requested a 10-year prison sentence, the same as the first trial's demand, in the appeal trial for former lawmaker Lee Sangjik, who was indicted on charges of embezzlement and breach of trust involving hundreds of billions of won related to Eastar Jet.

At the hearing held on the 5th at the Jeonju branch of the Gwangju High Court, 1st Criminal Division (Chief Judge Baek Gangjin), the prosecutor asked the court to "sentence the defendant to 10 years in prison and impose a fine of 55.4 billion won."

The prosecutor pointed out, "Due to the defendant's breach of trust as the founder and head of the Eastar Jet group, Eastar Jet suffered property damage exceeding 5 billion won," adding, "Employees were laid off, causing serious damage, but the actual damage has not been recovered." The prosecutor also stated, "The defendant denies the charges and manipulated evidence, making the nature of the crime very serious."

The sentencing hearing is scheduled for the 25th of next month.

Previously, former lawmaker Lee was brought to trial on charges of causing property damage of over 43 billion won to Eastar Jet by selling 5.2 million shares of Eastar Jet stock worth approximately 54 billion won at a low price to Eastar Holdings, where his children are shareholders, between November and December 2015, as well as embezzling more than 5 billion won.

He was investigated for arbitrarily increasing or decreasing the value of bonds held by Eastar Jet affiliates.

The first trial found most of the charges to be true and sentenced him to six years in prison, ordering his detention in court. Former lawmaker Lee was later released on bail and is currently undergoing trial without detention.