The court said Lee had long embezzled tens of millions of U.S. dollars from DAS, which he owns under the borrowed names, noting that the wrongdoings, disclosed in the course of finding the company's effective owner, disappointed and gave distrust to the entire society and the people who supported Lee.
It noted that he denied all of his wrongdoings despite objective evidences and credible witnesses while shifting the blame on others implicating the corruptions.
Lee became yet another former South Korean president to be convicted of corruptions.
Former president Park Geun-hye, Lee's successor, was sentenced in August to 25 years in jail in the second trial, an extension of the 24-year imprisonment handed down in the first trial in April.
Park became the first South Korean leader to be impeached by the National Assembly in December 2016. She was officially removed from office in March the following year by the constitutional court over a corruption scandal.
Meanwhile, Shin Dong-bin, chairman of Lotte Group, the country's fifth-biggest conglomerate, was released Friday as an appeals court suspended his sentence.
The Seoul High Court sentenced Shin to two and a half years in jail with the suspension of execution for four years over his offer of kickback to the impeached Park.
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