Court retracts decision to release Taekwang Group chairman on bail

SEOUL, Dec. 14 (Yonhap) -- A Seoul appellate court on Friday decided to retract an earlier decision to release Taekwang Group Chairman Lee Ho-jin on bail, who was convicted of embezzlement and other business malpractices.

The Seoul High Court on Friday ordered him be remanded in custody.

Lee was sentenced to a 3 1/2 year prison term for siphoning off 20.6 billion won (US$18.2 million) of company funds by doctoring output figures in a textile business. He was also found guilty of evading some 560 million won in taxes.

About two months into the presentencing detention, Lee was released on bail as the court approved his request for the suspension of confinement on grounds of health problems. Lee said he suffered from liver cancer and aneurysms.

But speculation has mounted in recent months that Lee's actually in good health and may have lied to be released from detention. Some local media reported on Lee smoking and drinking at private dinners. He was also spotted eating some spicy food at an outdoor snack cart.

Civic groups have called on the court to reconsider the granting of his bail.

The Supreme Court ordered a retrial of his case in late October, citing procedural errors regarding the tax evasion charges.

elly@yna.co.kr
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