Court upholds jail term for steelmaker head over embezzlement, gambling
Social affairsMay 18, 2016
An appeals court handed down a 42-month jail term to the chief of a local steelmaker Wednesday for gambling abroad with millions of dollars he embezzled.The Seoul High Court also ordered Chang Sae-joo, chairman of Dongkuk Steel Mill Co., to forfeit some 1.4 billion won ($1.2 million).The business tycoon was indicted in May 2015 on charges of misappropriating more than 20 billion won from the company since 2003 and using part of it to gamble in Las Vegas.A lower court had sentenced him to 42 mont