Convicted of Receiving 300 Million Won in First Trial... Sentenced to Prison
Bail Also Granted for Former Assistant Special Prosecutor Yang Jaesik, Who Was Tried Together
On July 17, the court granted bail to former special prosecutor Park Youngsoo, who was on trial for allegedly receiving money from private operators involved in the Daejang-dong development project. As a result, Park will now stand trial in the appellate court without being detained.
On July 17, the Criminal Division 1 of the Seoul High Court (Presiding Judges Yoon Sungshik, Min Sungchul, and Kwon Hyukjun) accepted the bail requests for Park Youngsoo, who was sentenced to prison and taken into custody in the first trial for violating the Act on the Aggravated Punishment of Specific Economic Crimes (including bribery). The court also granted bail to Yang Jaesik, the former assistant special prosecutor who is being tried alongside Park. Bail is a procedure that releases a detained person from custody upon payment of a security deposit or fulfillment of other appropriate conditions.
Park Youngsoo was previously released on bail in January last year while the first trial was ongoing. However, he was taken back into custody in February this year after the court sentenced him to seven years in prison. Along with the seven-year prison term, the court also imposed a fine of 500 million won and ordered the forfeiture of 150 million won.
In the first trial, the court found Park Youngsoo guilty of accepting 300 million won from attorney Nam Wook as funds for the Korean Bar Association presidential election.
However, the court did not find him guilty of two other charges: agreeing to receive 5 billion won and actually receiving 500 million won in exchange for helping issue a letter of intent for a Woori Bank loan; and receiving 1.1 billion won through his daughter, who worked at Hwacheon Daeyu Asset Management, a company where Kim Manbae was the major shareholder.
Yang Jaesik, the former assistant special prosecutor, was recognized as a co-principal offender who committed the crimes jointly with Park Youngsoo. In the first trial, he was sentenced to five years in prison, a fine of 300 million won, and forfeiture of 150 million won, and was taken into custody in court.
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