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[Alpha Biz=(Chicago) Reporter Kim Jisun] The court sentenced Jang Won-joon, former CEO of Shinpoong Pharmaceutical Co., who is suspected of embezzling company money to raise slush funds, to two and a half years in prison and fined Shinpoong Pharmaceutical Co. 10 million won.
Shinpoong Pharmaceutical announced the results of its first trial at the Seoul Central District Court on the 30th.
According to the industry and legal circles, the Criminal Agreement Department 23 at the Seoul Central District Court (senior judge Cho Byung-koo) sentenced former CEO Jang and former executive director Roh to two and a half years in prison for embezzlement and other charges under the Act on the Aggravated Punishment of Specific Economic Crimes. But I didn't arrest him in court. Shinpoong Pharmaceutical Co., Ltd., which was also indicted under the joint punishment regulations, was fined 10 million won. Lee, the head of an unregistered loan company who helped raise the slush fund, was sentenced to two years in prison and suspended for three years.
Former CEO Jang and former executive director Roh were indicted on charges of raising a total of 9.1 billion won in slush funds and spending it on their own shares and living expenses by getting back the difference by inflating or trading the delivery price of raw materials between April 2008 and September 2017.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
