Kim Bong-hyun, former chairman of Star Mobility and the central figure in the Lime Asset Management scandal, was acquitted in his first trial on charges of lobbying by delivering political funds to current and former lawmakers including former Democratic Party of Korea lawmaker Ki Dong-min.
Judge Seo Young-woo of the 12th criminal division at Seoul Southern District Court announced Friday that Kim and Lee Kang-se, former CEO of Star Mobility, were found not guilty of violating the Political Funds Act. Prosecutors had sought eight-month prison sentences for each defendant.
"The direct evidence for the charges in this case consists of statements, but Kim Bong-hyun's statements have changed multiple times from the investigation stage to this court," the court said. "Kim largely relies on memos he wrote himself, but there are insufficient circumstances to guarantee the truthfulness of those memos."
The court determined that the credibility of the key evidence—statements from Kim and Lee—was lacking.
The court also noted that four individuals charged with receiving funds from the two defendants, including former lawmaker Ki, have consistently denied the allegations and were acquitted in earlier trials.
Kim and Lee were charged with delivering a total of 160 million won ($118,000) in political funds to four individuals shortly before the 2016 general election: former lawmaker Ki, Democratic Party lawmaker Lee Su-jin, former Minister of Oceans and Fisheries Kim Young-hoon, and former Democratic Party preliminary candidate Kim Gap-su.
