Korean Job Discussion Forums

[mountainous]

http://www.tradingmarkets.com/.site/news/Stock%20News/1906952/

S. Korean convicted of defrauding Asia Motors extradited

INCHEON, Sep 28, 2008 (Asia Pulse Data Source via COMTEX) -- KIMTY | Quote | Chart | News | PowerRating -- A South Korean man convicted of depriving a now-defunct major South Korean automaker of hundreds of millions of U.S. dollars returned to his country on Saturday, officials said.

Jeon Chong-jin, sentenced to 10 years by a South Korean court for inflicting US$400 million in damages on Asia Motors, a now-defunct subsidiary of Kia Motors, fled to Brazil in 2001 while on bail.

Jeon, 43, headed the Brazilian branch of Asia Motors when he failed to pay Kia Motors US$200 million for shipments from 1996 to 1997. He also succeeded in swindling Kia Motors out of $200 million, saying he needed the money to expand his branch operations.

Kia Motors was eventually merged with Hyundai Motor, South Korea's biggest carmaker, in 1998.

Under an extradition treaty with South Korea, Brazilian police captured Jeon in July in 2006, and a Brazilian court decided last year to send him back to South Korea.

Taken into the custody of South Korean investigators upon his arrival at Incheon International Airport, Jeon was whisked off to the Supreme Prosecution's office in Seoul, airport officials said.

[Young FRANKenstein]

Big deal. He'll be on the next list of pardons the president will dole out. When, in 2 months?

[bobbyhanlon]

nah, i reckon he'll get a heavy prison sentence- he stole from the rich and powerful. if it were one of the family members, say, ripping off the pension fund, then he'd just have to cry in public and promise to give lots of money to charity, before receiving his obligatory pardon.

[cdninkorea]

They published a Korean criminal's name. I'm glad foreign news services do that.

[SHANE02]

PJs and a rented wheelchair