By Cho Jae-hyon
Staff Reporter
A Seoul district court sentenced a former senior Dongah Construction executive to 22 years and six months in prison and fined him 10 billion won, Friday, after finding him guilty of embezzling 190 billion won ($160 million).
The court said Park Sang-doo dealt a serious blow to programs to revive the bankrupt builder and seriously damaged creditors of the company.
Park was indicted in October, 2009 on charges of appropriating 190 billion won in 2004 and spending the money to buy properties and to gamble in casinos in Macau and other countries.
"Park spent a considerable amount of the embezzled money on gambling. The degree of his moral hazard went beyond imagination," the court said in its ruling.
The prosecution had sought life imprisonment and a 10 billion won fine. Two other former Dongah officials, identified only as Yoo and Song who helped in Park's embezzlement, were given sentences of seven years and 18 months, respectively, suspended for two years.
chojh@koreatimes.co.kr
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