Corruption Case; Former president granted bail

Corruption Case; Former president granted bail

Former South Korean president Lee Myung-bak, who was jailed, was granted bail today, nearly a year after he was arrested over corruption charges. The CEO-turned president who served from 2008 to 2013, was found guilty on charges including bribery and embezzlement.

Although he was sentenced to 15 years in prison last October, the Seoul High Court approved his request for bail made on grounds of ill health. Lee was found guilty of creating slush funds of tens of millions of dollars and accepting bribes from Samsung Electronics in return for a presidential pardon for its chairman Lee Kun-hee, who was jailed for tax evasion.

Lee’s successor, Park Geun-hye, was also sentenced to 25 years in prison and fined millions of dollars for bribery and abuse of power. She was ousted in 2017 over a nationwide corruption scandal that prompted massive street protests.

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