A junior organized crime member who was prosecuted for embezzling tens of billions of won in laundered funds from Kim Bong-hyun, former chairman of Star Mobility and a key figure in the ‘Lime redemption scandal,’ was sentenced to prison in the first trial.
Kim Bong-hyun, former chairman of Star Mobility and a key figure in the Lime Asset Management (Lime) incident. [Image source=Yonhap News]
According to the legal community on the 17th, Judge Lee Chun-geun of the Seoul Central District Court Criminal Division 1 sentenced the main perpetrator, Mr. A, who was indicted on charges of special theft, to two years in prison. An acquaintance, Mr. B, who participated in the crime, was sentenced to one year and six months in prison, and Mr. C, Mr. A’s younger brother, was sentenced to one year in prison with a three-year probation.
However, the court acquitted two others who were accused of assisting the crime, stating that “the intent to commit the crime was not proven.”
The court explained the sentencing rationale, saying, “The theft was systematically divided among the group, the amount was huge, and most of it has not been returned, so severe punishment is inevitable,” and added, “Considering that former chairman Kim did not want punishment as he reached an agreement with the defendants, and that Mr. A returned 300 million won to former chairman Kim.”
Mr. A and others were prosecuted for allegedly embezzling 4 billion won after laundering part of 24.1 billion won of funds embezzled by former chairman Kim from Suwon Passenger Transport around January 2019. When the police investigation tightened, former chairman Kim gave Mr. A and others from the same organization a 4 billion won check and instructed them to launder it into cash. Mr. A and others exchanged it at a currency exchange in Myeongdong, receiving 3.4 billion won in cash after fees. However, since the money was illegal, they thought that even if they embezzled it, former chairman Kim would not report it, so they took the money. Instead of reporting directly, former chairman Kim had company employees file a false theft report under a false name, which led to their capture by investigative authorities.
Former chairman Kim was sentenced to 30 years in prison and ordered to pay 76.9 billion won in fines at the end of last year after being confirmed guilty of embezzling over 100 billion won, including 24.1 billion won from Suwon Passenger Transport funds from October 2018 to March 2020, about 40 billion won invested by Lime Asset Management in Star Mobility, and 37.7 billion won in assets held by the Veterans’ Mutual Aid Association.
While on bail during the first trial, he fled just before the sentencing hearing in November 2022 but was captured 48 days later. It was later revealed that he planned an escape while in custody, leading to separate charges.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
