U.S. Jury Renders Verdict Against Chris Kim

The United States District Court in Los Angeles found Chris Kim, now behind bars in Korea, his wife Lee Bo-ra and his sister Erica Kim liable for losses to investors of Optional Capital (previously known as Optional Ventures Korea). The court also dismissed Chris Kim’s counterclaim against South Korean President-elect Lee Myung-bak.

On Monday (Pacific Time), the jury delivered its verdict against Chris Kim in a civil action filed with the U.S. District Court in L.A. presided by Judge Audrey B. Collins. The jurors found that Kim and his family members had engaged in fraud and embezzlement, holding them liable for 66.3 billion won. They first found the Kims had embezzled 37.1 billion won (about 3.8 million dollars), and further held them liable for 31 million dollars due to fraudulent activities.

The Court, however, dismissed the counterclaim filed by the Kims against President-elect Lee, allegedly claiming that Lee was jointly liable due to his partnership in the corporation. But Judge Collins ruled that both parties in the lawsuit agreed to dismiss Lee from the case.

The verdict against the Kims in the U.S. court is expected to affect the ongoing probe by local independent counsel, dubbed the “BBK” special investigation.

bell@donga.com