 |
| ▲ This file image shows Kim Man-bae, a journalist-turned-real estate developer. (Yonhap) |
development scandal-court
Not-guilty verdict finalized for key figure in Daejang-dong development scandal
SEOUL, July 18 (Yonhap) -- The Supreme Court on Friday finalized a not-guilty verdict for Kim Man-bae, a key figure in a high-profile development corruption scandal, acquitting him of bribing a regional council speaker to facilitate the development project.
Kim, a journalist-turned-real estate developer, was accused of bribing Choi Youn-kil, former speaker of the Seongnam city council, to help pass an ordinance establishing the city-run Seongnam Development Corp. (SDC) in 2013.
The SDC, along with Kim's firm Hwacheon Daeyu, jointly led the lucrative apartment development project in Seongnam's Daejang-dong district, just south of Seoul.
Choi later served as an executive at Hwacheon Daeyu and was allegedly promised a total of 4 billion won (US$2.9 million) in bonuses, of which he allegedly received 80 million won.
A district court had initially found both of them guilty, sentencing Kim and Choi to 2 1/2 years and 4 1/2 years in prison, respectively. The decision was, however, overturned by an appellate court in April this year, which cleared the former city council speaker of any illegal involvement in the ordinance's passage, and, by extension, acquitted Kim of the bribery charges.
The Supreme Court on Friday finalized the not-guilty verdicts for both of them, upholding the appellate court's reasoning.
The scandal has drawn widespread attention, as it was launched in 2015 while current President Lee Jae Myung was serving as mayor of Seongnam. Lee was accused of involvement and stood trial in connection with the scandal, but the court indefinitely postponed the trial after Lee was elected as president, based on the constitutional immunity granted to a sitting president.
The Seoul Central District Court is scheduled to deliver its ruling in October on Kim and others on charges of illegally pocketing massive proceeds from the development project, causing significant losses to the SDC. Prosecutors have demanded a 12-year prison term for Kim.
(END)
(C) Yonhap News Agency. All Rights Reserved
