Son of LCT Chairman Sentenced to 12 Years in Prison for Swindling 3.2 Billion Won Under Pretext of 'Supreme Court Lobbying'

The son of the actual owner of LCT, a large residential and commercial complex in Busan, has been sentenced to a heavy prison term in the first trial for swindling 3.2 billion won under the pretext of lobbying Supreme Court justices and other judicial officials.

On June 29, the Seoul Central District Court, presided over by Judge Han Seong-jin of the 34th Criminal Division, sentenced Lee, who was indicted under detention on charges including fraud under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes, to 12 years in prison. His accomplice, identified as Kim, was sentenced to 8 years in prison.

Lee is the son of Lee Young-bok, the chairman of Cheongan Construction, who is the actual owner of the LCT developer.

The court found all charges against Lee to be guilty, stating that considering the victim's consistent testimony during investigations and in court, Lee's deceptive actions and intent to defraud were clearly established.

The court further rebuked the defendants, stating, "This case carries the risk of inciting public distrust in the judiciary, so the nature of the crime is extremely grave, and severe punishment is inevitable."

Lee and Kim were indicted in January on charges of swindling 3 billion won from a victim who operated a cryptocurrency service company. The victim had lost a first-instance lawsuit regarding an injunction against obstruction of business related to coin issuance, and the defendants promised to help the victim win the appeal.

Investigations revealed that the pair demanded approximately 3 billion won by emphasizing that Lee was the son of Chairman Lee and claiming that they could "win the trial by lobbying the appellate judge through a Supreme Court justice."

Lee is also accused of receiving an additional 200 million won from the victim under the pretense that he needed to lobby a high school classmate of a judge.

Previously, Lee was indicted in a separate case for swindling 3.2 billion won by falsely promising exclusive sales agency rights for LCT in June 2020 and failing to repay the money. In July of last year, he received a suspended prison sentence in the second trial for that case.

That ruling was finalized as neither the prosecution nor Lee appealed the decision.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.