Arab Today, arab today court upholds lig group chief\s conviction for fraud
Last Updated : GMT 18:22:15
Arab Today, arab today
Arab Today, arab today

Court upholds LIG Group chief\'s conviction for fraud

Arab Today, arab today

Arab Today, arab today Court upholds LIG Group chief\'s conviction for fraud

Seoul - Yonhap

A Seoul appellate court on Tuesday upheld an earlier conviction against the chairman of LIG Group for fraudulently issuing commercial paper worth around 215 billion won (US$198 million), handing down a suspended prison term. Koo Cha-won, 79, had received a three-year sentence from a lower court for orchestrating the fraudulent issuance under the name of the group's construction arm, LIG Engineering & Construction Co., to get back stakes in the group's subsidiaries.

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