South Korean Blogger Acquitted
Headline Legal News
A South Korean court on Monday acquitted a blogger accused of causingthe country huge financial losses by spreading misleading informationon the economy.
Prosecutors had sought an 18-month prison term for Park Dae-Sung, 30 --better known by his Internet alias "Minerva" -- while some mediafreedom groups criticised the decision to charge him.
Parkwas arrested in early January and charged with spreading online rumoursthat the government in late December ordered local banks not to buydollars as part of efforts to stabilise the won.
Prosecutorsclaimed the December posting led to dollar hoarding, forcing thegovernment hurriedly to inject two billion dollars to stabilise thecurrency market.
"Considering all the circumstances, it is hardto conclude that Park was aware the information was misleading when hewrote the postings," said Judge Yoo Young-Hyun of Seoul CentralDistrict Court.
The judge said that even if Park had realised theinformation was false, it cannot be concluded he intended to damage thepublic interest, considering the circumstances at the time or thespecial characteristics of the foreign exchange market.
Parkwrote more than 200 economic commentaries in recent months and gained amajor following after correctly predicting the collapse of USinvestment bank Lehman Brothers last September.
Related listings
-
Davis Polk Recruit Ex-SEC Aide
Headline Legal News 04/17/2009Law firm Davis Polk & Wardwell recruited the Securities andExchange Commission's former enforcement chief and another formerhigh-level government lawyer to join its white-collar defense group,part of an effort to expand its Washington practice. L...
-
18-month sentence for South Korean blogger
Headline Legal News 04/16/2009Prosecutors demanded an 18-month sentenceMonday for a popular South Korean blogger who is accused of spreadingfalse financial information in a case that has ignited a debate aboutfreedom of speech in cyberspace. The 30-year-old blogger, a fierce crit...
-
El Segundo Ponzi Scheme Targets Latinos
Headline Legal News 04/15/2009An El Segundo woman took $23 million in a Ponzi scheme that targeted Latinos, the SEC says in Los Angles Federal Court. Clelia A. Flores and her business, Maximum Return Investments, took the money from more than 150 people in seven states, by "guara...
CHICAGO BUSINESS & CORPORATE LITIGATION LAWYERS
When faced with a legal challenge, your attorneys should help you identify your goals at the beginning of the process. Thereafter, every action that follows must be undertaken with the aim of meeting those goals. Wasted effort equals wasted time and money, that’s something you cannot afford and your attorneys must respect this concept. At Roth Law Group, we counsel our clients to confront their legal challenges aggressively, but with purpose.
As a former Marine Corps Pilot, I learned that you must assess the situation, determine your mission, construct a plan to achieve the mission and execute that plan. As an attorney and small business owner, I apply the same concepts in taking on my client’s legal challenges. And while it is generally preferable to resolve cases early in the process whenever possible, if you have no choice but to fight, you need someone who is willing to aggressively advocate for you. Here at Roth Law Group, we never back down from a challenge and we fight to win. Let our experienced attorneys put you in control of your legal challenges so you can get back to running your business.