The special counsel investigating Kim Keon-hee sought 15 years in prison and a fine of 2 billion won in the first lady's appeals trial on charges tied to Deutsch Motors stock manipulation, receiving a poll for free from Myung Tae-gyun, and taking money and valuables from the Unification Church.
The Seoul High Court's Criminal Division 15-2 (High Court Judges Shin Jong-o, Seong Eon-ju, and Won Ik-seon) on Apr. 8 held the final hearing in the appeals trial of Kim on charges of violating the Financial Investment Services and Capital Markets Act, violating the Political Funds Act, and brokered bribery under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes.
The special counsel argued that Kim cannot be seen as a mere investor in connection with the Deutsch Motors stock manipulation charges. The special counsel said that if Kim's conduct is tolerated as simple investment, ordinary people who invest honestly would not be protected and market order would inevitably be shaken, and asked the court to put an end to the prolonged controversy and set a clear standard against market disorder.
On the allegation of receiving a poll for free from Myung Tae-gyun, the special counsel also defined it as a crime that undermined the public's trust in democracy. The special counsel said that by using the status of the president-elect's spouse, Kim infringed constitutional values, and given that she denied the charges during the investigation and trial and even showed signs of attempting to destroy evidence, the culpability is not light. The special counsel also said that considering the scale of revenue from price manipulation, the amount of money and valuables received, and the shock the crimes inflicted on society, the first-trial sentence was excessively lenient.
For violating the Financial Investment Services and Capital Markets Act and brokered bribery, the special counsel sought 11 years in prison, a fine of 2 billion won, forfeiture of the Graff necklace, and confiscation of 832,383,596 won, and for violating the Political Funds Act, 4 years in prison and confiscation of 137,200,000 won.
From Oct. 2010 to Dec. 2012, Kim is accused of colluding with former Deutsch Motors Chairman Kwon Oh-soo, former Black Pearl Invest CEO Lee Jong-ho, and others to obtain an illicit gain of about 811,440,000 won through high-priced purchases, wash trades, and matched orders.
From Jun. 2021 to Mar. 2022, she is also accused of colluding with former President Yoon Suk-yeol to receive a public opinion poll worth about 270,000,000 won from Myung Tae-gyun for free, and from Apr. to Jul. 2022, of colluding with Jeon Seong-bae to accept, along with a request from the Unification Church side, a Graff necklace and a Chanel bag and other valuables worth about 80,000,000 won.
In her final statement, Kim said, "I deeply reflect on my actions that were not considerate," and added, "I ask for forgiveness. If given a chance, I will serve with humility to contribute to society. Thank you. I am sorry."
On Jan. 28, the court of first instance acquitted Kim of stock manipulation and receiving a poll for free, but found her partially guilty only on the charge of receiving money and valuables from the Unification Church and sentenced her to 1 year and 8 months in prison. It also ordered forfeiture of the seized Graff necklace and confiscation of 12,810,000 won. Both the special counsel and Kim appealed.
The appeals verdict will be delivered at 3 p.m. on the 28th.