Ex-president denies bribery, embezzlement allegations
By Kang Seung-wooFormer President Lee Myung-bak denied allegations of receiving bribes from businesses and creating a slush fund through an auto parts maker, estimated to add up to tens of billions of won, Thursday. Lee did this through his lawyers at a pre-trial hearing that was not mandatory for him to attend. The 76-year-old, who served as president from 2008 to 2013, was arrested in March on charges of taking a total of 11 billion won ($10 million) in bribes from the state-run spy agency and various businesses between 2007 and 2012In addition, he is suspected of embezzling 35 billion won from the auto parts firm DAS, which he is said to secretly own, between 1994 and 2006.“Lee denies all allegations linked to DAS, including siphoning off its corporate money and creating a slush fund,” Kang Hoon, one of Lee's lawyers, told the judges.Samsung Electronics is alleged to have paid 6.77 billion won in retainer fees for DAS in 2009. DAS had filed a lawsuit to recoup its investment in a U.S. financial firm run by Lee's estranged former business partner.“Lee did not rece
May 3, 2018