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Hyundai chairman convicted of embezzlement

[JURIST] The chairman of Hyundai Motors Group [corporate website] was convicted Monday of embezzling company funds [JURIST report] and allegedly using secret accounts to bribe politicians in South Korea [JURIST news archive]. Chung Mong-koo [Wikipedia profile] received a three-year prison sentence despite prosecutor petitions for a six-year prison term. Judge Kim Dong-oh ruled that the lesser prison sentence was appropriate because of Chung's significant contributions to the South Korean economy through his operation of the country's largest automaker.

Chung's lawyers said he plans to appeal the court's verdict and is currently out on bail. Three other Hyundai executives were given suspended sentences after being convicted of similar charges in the scandal. AP has more.

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