Former South Korean President Lee Myung-bak has been sentenced to a 17-year prison term by the country’s Supreme Court.
Korea’s Yonhap reported late on Thursday that Mr. Myung-bak was also asked to pay up to $10.9 million in fines. He will also forfeit about $5 million in assets.
Mr. Kyung-hee led South Korea between 2008 and 2013. He was charged with 16 counts of criminal conspiracies and fraud. The charges also related to his stake in his brother’s auto parts manufacturer, DAS.
He was sentenced earlier this year, but appealed the verdict to the Supreme Court. He maintained his innocence despite today’s judgement that sent him straight behind bars.