Beranda ยป Internasional ยป Director of the Lotte Conglomerate in South Korea Sentenced to 20 Years
Internasional

Director of the Lotte Conglomerate in South Korea Sentenced to 20 Years

Five members of the Lotte group family, the fifth largest family-owned conglomerate in South Korea, were sentenced to varying prisons by the court on Friday (22/12) for various management fraud.

The court in the central Seoul district on Friday sentenced him to 20 months in prison against Lotte Group Director Shin Dong-bin for two years for embezzlement and fraud.

Lotte’s director’s father, Shin Kyuk-ho (95 years), founder of Lotte, was sentenced to four years and a fine of 3.24 million US dollars. However, because of his advanced age, he was not imprisoned. He can not walk and must use a wheelchair and reportedly he suffered from dementia.

Lotte’s director’s sister, Shin Young-ja, who handles the Lotte Foundation, was sentenced to two-year prison sentence.

Seo Mi-kyung, the mistress of the founder of Lotte, was given a suspended sentence.

Lotte Group, the owner of stocks in a number of retail, entertainment, hotel, metal, electronic and many other businesses. ย [voa/4ld]