The representative of Ado International, who is accused of leading an investment scam worth 440 billion won while promising high revenue, was sentenced to 4 years in prison in the first trial of the additional indictment but was reduced to 2 years in the second trial. The court explained, "We took into account the fact that the maximum sentence of 15 years in prison was received in the initial indictment trial."
According to the legal community on the 22nd, the Criminal Division 8-3 of the Seoul Central District Court (Director General Choi Jin-sook) sentenced Mr. Lee of Ado International to 2 years in prison in the appeal trial on fraud charges.
If the ruling is confirmed, Mr. Lee will serve a total of 17 years, combining the previously sentenced 15 years and the newly imposed 2 years.
The court explained the reason for Mr. Lee's sentence reduction, stating, "The defendant received a confirmed sentence of 15 years in prison on another charge while the current trial was ongoing in January of this year," and added, "It is necessary to reconsider the sentence in light of equity."
However, the court noted, "Mr. Lee, as the representative of Ado International, played a major role in directing the crime, and most of the damages have not been recovered," adding that "the suffering of the victims also appears to be considerable."
Earlier, in September 2023, the prosecution first applied fraud charges against the representative for allegedly embezzling approximately 1.7 billion won in investment funds and arrested Mr. Lee. Subsequent investigations revealed that the total damage from Mr. Lee's fraud was 24.7 billion won, and the damage from similar fraudulent receipt amounts to 446.7 billion won. Similar fraudulent receipt is a criminal act of raising funds from an unspecified number of people while promising to guarantee the principal.