U.S. Court Clears Lee of Embezzlement

      February 05, 2008 09:49

      A U.S. court has ruled that president-elect Lee Myung-bak had no hand in embezzlement by his ex-business partner Kim Kyung-joon.

      The Los Angeles Federal Court is also overseeing a civil suit against Kim filed by Korean company Optional Capital, the victim of the embezzlement.

      The court made the ruling on a so-called third-party defendant suit in which Kim asked the court to confirm the responsibility of the president elect in the embezzlement case, as he was also involved in the management of the company.

      The case is an offshoot of a compensation suit against Kim, his wife Lee Bo-ra and his older sister Erica Kim by Optional Capital, which is seeking US$30 million.

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