Eastar Jet founder convicted of embezzlement of funds, sentenced to six-years in prison

Founder of South Korea’s Eastar Jet, Lee Sang-jik is sentenced to six-year prison term by the Supreme Court of Korea for embezzlement of company funds and breach of trust and losses. He was arrested in April 2021. In January 2022, he was found guilty and sentenced to six years of prison term by Jeonju District Court in western South Korea. Supreme Court has withheld the district court’s judgement. Lee was accused of underselling shares of Eastar Jet to a subsidiary owned by his children in 2015. This transaction led to a loss of $32.1 million for the airline. Lee is also accused