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South Korean court finds ousted Park guilty of bribery

South Korean court finds ousted Park guilty of bribery

A South Korean court found former President Park Geun-hye guilty of bribery on Friday over a scandal that exposed webs of corruption between political leaders and the country's conglomerates.

The court ruled that Park colluded with her old friend, Choi Soon-sil, to receive tens of billions of won from major conglomerates such as Samsung and Lotte to help Choi's family and fund non-profit foundations owned by her.

Park, 66, has denied wrongdoing and was not present in court.

Prosecutors are seeking a 30-year sentence and a 118.5 billion won ($112 million) fine for Park, after indicting her on charges that included bribery, abuse of power and coercion.

Source: www.cnbc.com

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