A Seoul court has handed down a ten-year prison sentence to Park Sam-koo, former chairman of Kumho Asiana Group, who was indicted on charges of embezzlement, breach of trust and unfair inter-affiliate transactions.

The Seoul Central District Court pronounced the sentence for Park on Wednesday, which was identical to the penalty sought by the prosecution.

Prosecutors indicted Park in May of last year, accusing him of engaging in unfair inter-affiliate transactions to take back control of group firms.

He is charged with withdrawing 330 billion won from the coffers of four group affiliates in 2015 to pay for the return of Kumho Industrial Company shares from the state-funded Korea Development Bank.

He is also accused of unfairly mobilizing Asiana Airlines and other group companies to support Kumho Buslines, a transportation service provider controlled by his family, by way of lending funds at a low interest rate without security.