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Lotte chief gets suspended jail sentence

Lotte Group founder Shin Kyuk-ho, 95, was sentenced to four years in prison in a verdict announced Friday in a Seoul Central District Court

Sohee Kim | Bloomberg 

A South Korean court handed Lotte Group Chairman Shin Dong-bin (pictured) a suspended prison term after a year-long trial in which prosecutors charged top executives at the South Korean conglomerate with embezzlement and breach of fiduciary duty. Lotte Group founder Shin Kyuk-ho, 95, was sentenced to four years in prison in a verdict announced Friday in a Seoul Central District Court. Shin Dong-joo, elder son of the founder, was acquitted. The convictions and sentencing of executives at South Korea’s fifth-largest conglomerate are among a series of penalties the government ...

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First Published: Sat, December 23 2017. 02:19 IST
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