Shin Kyuk-ho was convicted of professional malpractice, embezzling from firm to benefit relatives. FMTNews SouthKorea Lotte
SEOUL: The founder of South Korea’s sprawling retail conglomerate Lotte Group has died at the age of 97, company officials said Sunday.
Shin’s two sons made headlines in 2015 with a bitter public fight for control of the group, each accusing the other of mismanagement, personality flaws, and of manipulating their frail and aged father. The daughter was jailed for two years, while the mistress – a former model and actress 39 years Shin’s junior, who came to his attention after winning a beauty pageant – was given a suspended sentence.
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