A Seoul court on Tuesday sentenced the chief of a local construction and real estate business group to five years in prison for embezzlement and breach of trust.
The Seoul Central District Court handed down the verdict to Lee Joong-keun, chairman of Booyoung Group, ordering a 100 million-won ($88,260) fine.
Prosecutors indicted Lee in February on 12 charges involving a total of 430 billion won in misappropriation, tax evasion and profits from illegal acts. They had demanded 12 years in prison and a 7.3 billion-won fine for Lee.
The court found him guilty only of embezzlement and breach of trust, valued at about 52.1 billion won.
Lee was arrested in February and released in July on bail. Lee has denied the charges. (Yonhap)