The Supreme Court has acquitted Pastor Park Ock-soo from the Good News Mission of charges of having engaged in a large-scale financial scam worth 25.2 billion won ($21.8 million).

The prosecution, which had appealed to the top court, argued that Park, in collusion with other suspects, raked in unlawful profits by selling over-the-counter stocks of a bio company at unreasonable prices to some 800 church devotees.

But the court ruled that it is hard to regard Park as an accomplice. Judges dismissed the prosecution’s claim that Park owned stocks under borrowed names in low-key connections with the company.

The two lower courts also earlier made a verdict that found Park not guilty.

Meanwhile, three other suspects, including a former brokerage house CEO, have been given jail terms of two to three years with several years of probation.

(khnews@heraldcorp.com)