[Alpha Biz=(Chicago) Reporter Paul Lee] The prosecution appealed after DGB Financial Group Chairman Kim Tae-oh and others, who were accused of trying to hand over a large sum of money to local officials in connection with the approval of a Cambodian commercial bank, were acquitted in the first trial.

The Daegu District Prosecutors' Office said on the 16th that it has filed an appeal against four executives and employees of Daegu Bank, including Chairman Kim, who are suspected of violating the Anti-Bribery Act and the Act on the Aggravated Punishment, etc. of Specific Economic Crimes in international commerce.

Chairman Kim and others were put on trial by Daegu Bank on charges of handing over $3.5 million in lobbying funds to local brokers between April and October 2020 to obtain approval of a commercial bank by a special bank, a local subsidiary in Cambodia.

They were also accused of pretending that $3 million in lobbying funds were included in the real estate sale by inflating the sale of local real estate that a special bank tried to buy to raise lobbying funds at a similar time.

Prosecutors earlier demanded Kim a four-year prison term with a fine of 8.2 billion won and two to three years in prison and a fine of 8.2 billion won for the remaining three executives and employees, respectively.

 

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