ID :
188994
Thu, 06/16/2011 - 11:34
Auther :
Shortlink :
https://oananews.org//node/188994
The shortlink copeid
Presidential crony sentenced to prison for influence-peddling
(ATTN: UPDATES with details of court decision in paras 2-5; RECASTS headline)
SEOUL (Yonhap) - A businessman and friend of President Lee Myung-bak received a prison sentence on Thursday for taking kickbacks in return for using his influence to help a troubled company.
Chun Shin-il, chairman of Sejoong Namo Tour agency, was sentenced to two and a half years in prison and a forfeit of 3.2 billion won (US$2.96 million) for influence-peddling.
"The jail term was inevitable since we need to eradicate behaviors of exercising social influence using one's personal network based on blood, regional and school relationships," Judge Kim Woo-jin of the Seoul Central District Court said in a verdict.
Chun, 68, was convicted of taking 2.61 billion won from Lee Su-woo, president of Imchon Industrial Co., an affiliate of Daewoo Shipbuilding & Marine Engineering, between 2004 and 2006 in exchange for helping a troubled subsidiary of Imchon get an early exit from a creditor-led debt workout program.
The court also found him guilty of accepting 400 million won in cash and 200 million won in gift cards from Lee of Imchon in return for other business favors, including help in resolving a dispute with a conglomerate and avoiding a tax probe.
Chun and President Lee are both graduates of Korea University in Seoul. Chun is said to have played a key role in Lee's presidential campaign in 2007.
SEOUL (Yonhap) - A businessman and friend of President Lee Myung-bak received a prison sentence on Thursday for taking kickbacks in return for using his influence to help a troubled company.
Chun Shin-il, chairman of Sejoong Namo Tour agency, was sentenced to two and a half years in prison and a forfeit of 3.2 billion won (US$2.96 million) for influence-peddling.
"The jail term was inevitable since we need to eradicate behaviors of exercising social influence using one's personal network based on blood, regional and school relationships," Judge Kim Woo-jin of the Seoul Central District Court said in a verdict.
Chun, 68, was convicted of taking 2.61 billion won from Lee Su-woo, president of Imchon Industrial Co., an affiliate of Daewoo Shipbuilding & Marine Engineering, between 2004 and 2006 in exchange for helping a troubled subsidiary of Imchon get an early exit from a creditor-led debt workout program.
The court also found him guilty of accepting 400 million won in cash and 200 million won in gift cards from Lee of Imchon in return for other business favors, including help in resolving a dispute with a conglomerate and avoiding a tax probe.
Chun and President Lee are both graduates of Korea University in Seoul. Chun is said to have played a key role in Lee's presidential campaign in 2007.
