Sunday, Nov 23, 2014Sunday, Nov 23, 2014
 

S. Korea president's brother gets two-year jail term for corruption

Published on Jan 24, 2013 3:06 PM
 

SEOUL (AFP) - A South Korean court today sentenced the elder brother of President Lee Myung Bak to two years in jail after convicting him on corruption charges.

The Seoul Central District Court also ordered Lee Sang Deuk, 77, to pay fines totalling 750 million won (S$860,000) - the same sum he was found guilty of taking in kickbacks from bankers and a businessman.

Lee, a six-term lawmaker, was arrested in July last year on graft charges and allegedly helping troubled banks avoid audits.

His activities were linked to a major corruption scandal in early 2011 when four savings banks were suspended for inadequate liquidity, triggering a wider probe.

 
If you are not a subscriber, you can get instant, unlimited access here