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South Korea's Lotte Group founder jailed for embezzlement, corruption

The Seoul Central District Court cleared the executive of some counts of breach of trust and also of embezzlement

Reuters  |  Seoul 

A Seoul court on Friday found Lotte Group Chairman Shin Dong-bin guilty of breach of trust and sentenced him to 20 months in prison, suspended for two years, leaving him free to try and revive the conglomerate after steep losses in China. The Seoul Central District Court cleared the executive of some counts of breach of trust and also of embezzlement. "I apologise to the public," Shin said as he left court, without commenting further. The ruling will come as a relief to the retail-to-chemicals group at the end of a difficult year during which it became the ...

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First Published: Fri, December 22 2017. 14:17 IST
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