The prosecution has appealed the first-instance ruling that sentenced Lee, an accomplice of Cho Beom-dong, the fifth cousin of Cho Kuk, leader of the Innovation Party, to three years in prison with a four-year suspended sentence.
On the 10th, the Third Trial Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Joo Hye-jin) announced that it had filed an appeal against the first-instance ruling on Lee, who acted as a so-called "front president" at the private equity fund management company 'KORLINK Private Equity (KORLINK PE)' operated by Cho and the listed company 'WFM.'
The Seoul Central District Court sentenced Lee, who was indicted on charges including violation of the Capital Markets Act, special fraud (embezzlement), evidence destruction instruction, and evidence fabrication, to three years in prison with a four-year suspended sentence and a fine of 20 million won on the 5th. Previously, the prosecution had requested a three-year prison term and a fine of 25 million won for Lee.
The prosecution considered the sentence in the first trial insufficient, given that Cho, Lee's accomplice, was confirmed to have received a four-year prison term and a fine of 50 million won, and that the total amount embezzled by Lee reached approximately 6.68 billion won, indicating the gravity of the crime. They also cited as reasons for the appeal that Lee's acts of instructing evidence destruction and fabricating evidence obstructed the proper exercise of state criminal authority against Cho and others, including Jung Kyung-shim, a professor at Dongyang University and Cho's spouse.
A prosecution official stated, "We will do our best to maintain the prosecution so that the defendant receives punishment commensurate with the crime."
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