A prison sentence has been confirmed for Jang Won-jun, the former representative of Shin Poong Pharm, who was indicted on charges of embezzlement and creating slush funds.
According to the legal community on the 12th, the Supreme Court's Second Division, led by Chief Justice Oh Kyung-mi, confirmed the original ruling that sentenced former representative Jang to 1 year and 6 months in prison for embezzlement under the Specific Economic Crime Aggravated Punishment Act on the 1st.
Prosecutors reported that former representative Jang inflated the prices of materials and supplies from 2008 April to September 2017 or pretended to have made transactions to collect a difference, creating a total of 9.1 billion won in slush funds used for acquiring company shares and living expenses, which led to his indictment.
The first and second trial courts found that the late Jang Yong-taek, the father of former representative Jang, led most of the embezzlement acts to create slush funds. The second trial court ruled that former representative Jang participated in creating slush funds only after his father's death in March 2016 and recognized only the embezzlement charge of over 860 million won as guilty. Additionally, the court acknowledged the charge of 86.23 million won for breach of duty and for instructing the preparation of false financial statements, violating the law regarding external audits of corporations.
Both the prosecutors and former representative Jang appealed the ruling, but the Supreme Court dismissed the appeal, stating there were no errors in the second trial's judgment.