20 years sought for ex-President Lee

By Lee Kyung-min

The prosecution sought 20 years in prison for former President Lee Myung-bak, Thursday, on a wide range of corruption charges.

It also requested the Seoul Central District Court to fine him 15 billion won ($13.3 million) and 11.1 billion won in forfeiture of illicit financial gains.

The Seoul Central District Prosecutors' Office earlier indicted the 77-year-old on 16 charges including bribery, abuse of power, embezzlement, breach of trust, tax evasion and violations of the election and presidential records laws.

The ruling will be made Oct. 5.

“We need to restore democracy and the rule of law through the stern punishment of Lee who committed unconstitutional acts. He abused the power the public delegated to him by seeking illicit personal gains,” the lead prosecutor in the case said.

“Stern punishment is inevitable for the unprecedented corruption involving Lee who has become the fourth former president to stand criminal trial for serving his personal interest while in office.”

Prosecutors said Lee became president by deceiving the public about who really owned DAS, a car parts manufacturing company, adding his deception and failure to disclose the truth continued long after his presidency.

“Even after taking office, he was involved in a wide range of corrupt activities. His complete denial to this day devastates me as a citizen of this country,” the lead prosecutor said.

The prosecution said Lee virtually controlled DAS, though he claimed his brother owned the company, and embezzled 34.9 billion won from the company to operate a slush fund. They also said he allegedly evaded 3.1 billion won in DAS corporate taxes through accounting fraud and used 430 million won in DAS funds to pay for his election campaign expenses between 1991 and 2000.

Prosecutors said Lee abused the power of the presidential office to discuss plans to hand over DAS shares to his son Lee Si-hyung, which they see as clear evidence of him being the de facto owner of the company.

They said the allegation was backed by over 3,400 documents confiscated in January from the basement of Yeongpo Building in southern Seoul, where the former president's office was located.

The documents show Lee also lent 12.3 billion won _ interest-free _ from DAS and affiliates' funds to a company owned by his son, which could constitute embezzlement and breach of trust.

He is suspected of receiving around 700 million won from the National Intelligence Service (NIS) via his closest aides. Lee also allegedly received 2.26 billion won from former Woori Financial Group CEO Lee Pal-sung in return for helping him get the top post at the bank. At the time, the government was the financial group's largest shareholder.

Prosecutors suspect Samsung Group paid $5.85 million in lawsuit expenses on behalf of Lee to U.S. law firm Akin Gump, in return for a presidential pardon for group Chairman Lee Kun-hee in 2009.

Lee allegedly received 500 million won from Daebo Group, in return for helping it gain construction contracts, as well as 400 million won in bribes from a former lawmaker in return for helping her in the 2008 general election.

Taking 100 million won or more in bribes is punishable by a minimum prison term of 10 years. The Supreme Court sentencing guidelines stipulate a minimum 11-year sentence for those who receive 500 million won or more.

His predecessor, President Park Geun-hye who was also indicted on corruption charges, had her sentence increased by one year to 25 years last month.