– The Prosecutor’s office of South Korea demanded a 10-year sentence for the Chairman of the Board of Directors of Lotte Group Shin Debina, accused of corruption, according to Chinese publication Xinhua. Lotte Group is one of the largest South Korean conglomerates, controlled by the family of its founder Shin Gecko.
63-year-old Shin Dobin is accused of embezzlement and breach of trust. According to prosecutors, he made illegal payments to members of the family of the founder of Lotte, and gave preference to companies controlled by them, choosing business partners, which is also illegal.
In addition, the investigation revealed a number of frauds committed Sin Debina. For example, he was instrumental in the placement of shares is one of the problematic units of Lotte, which has been bought by others, financial success, a division of conglomerate.
In addition to jail, the Prosecutor’s office demanded for Sin Dobina fine in the amount of 100 billion won ($90 million).
In recent years Lotte has been at the center of scandals. So, in July of last year, the daughter of the founder of the group Shin young-I was arrested on suspicion of fraud and embezzlement of funds of the company, and in August last year, Vice-President of the group Lee In-Won was found hanged.
South Korean businessman Hecho Shin founded Lotte in 1948 in Tokyo, in 1967, the group started working in Seoul. In Moscow Lotte built business center “Lotte Plaza”, the five-star Lotte Hotel Moscow, as well as a five-star hotel in St. Petersburg, which opened in may 2017.