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Legal Research

: New York Supreme Court Criminal Term Library

LAW.COM Newswire February 1, 2008 (UPDATE)

By David Badertscher, PLL

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South Korean Court Gives Lone Star Head 5 Years for Stock Fraud
The Deal

"A South Korean court Friday unexpectedly found Lone Star Funds' local head guilty of stock price manipulation and sentenced him to five years' imprisonment. The verdict against Paul Yoo related to Korea Exchange Bank's credit card unit, which Dallas-based Lone Star acquired shortly after the 2003 purchase of its parent at the behest of financial regulators. Lone Star and KEB were also each fined $26.5M. The verdict jeopardizes HSBC's $6.3 billion agreement to buy KEB from Lone Star."

Full post as published by New York Supreme Court Criminal Term Library on February 01, 2008 (boomark / email).

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