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Leadcorp chief jailed for taking kickbacks

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  • Published May 1, 2017 3:10 pm KST
  • Updated May 1, 2017 3:10 pm KST

Leadcorp Chairman Seo Hong-min / Screen captured from MBC

By Lee Han-soo

Chief of private lender Leadcorp was convicted of illegal kickback.

The Supreme Court has upheld a guilty verdict against Leadcorp Chairman Seo Hong-min, sentencing him to two years’ jail and fining him 1.4 billion won ($1.2 million).

Seo, 52, was indicted for receiving 1.4 billion won in kickbacks from two advertising agencies between July 2009 and Feb. 2016. In return, the agencies secured lucrative deals to produce the lender’s commercials.

“We found no legal fault with the ruling from an appellate court,” the top court said in its ruling statement. “Therefore, a guilty verdict against the accused was justified.