Lee Jong-ho admits to giving 300 million won to former first lady

Lee Jong-ho, former head of Black Pearl Investment with close ties to former first lady Kim Keon Hee, admitted on Tuesday that he gave Kim checks worth 300 million won ($203,900).

Lee Jong-ho, former head of Black Pearl Investment, is seen appearing for questioning by the special counsel at the counsel's office in Jongno District, central Seoul on July 23. [NEWS1]

Lee Jong-ho, former head of Black Pearl Investment with close ties to former first lady Kim Keon Hee, admitted on Tuesday that he gave Kim checks worth 300 million won ($203,900).

Lee, who previously managed Kim’s bank account in relation to the Deutsch Motors stock manipulation scandal dating back to 2009, emerged as a central figure in the special counsel’s probe into Kim’s alleged involvement in the scheme.

During the final hearing on Tuesday, the special counsel requested a four-year prison sentence with an additional fine of 10 million won, plus a surcharge of 83 million won to the court.

The special counsel said that Lee flaunted his close relationships with former President Yoon Suk Yeol and Kim to extort money from others.

“This case involved the defendant accepting cash in exchange for a suspended sentence through his connections with Yoon, Kim and other figures,” the special counsel said. “This is a serious crime that seriously undermines the fairness and integrity of the criminal justice process.”

The verdict on Lee will be handed down on Feb. 13 next year.

BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]