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. [voa/4ld]