The Supreme Court has upheld a 30-year prison sentence for the businessman behind a one-point-seven trillion-won hedge fund scandal involving Lime Asset Management.

Handing down its decision against Kim Bong-hyun on Thursday, the top court also confirmed a forfeiture of 76-point-nine billion won, or 59-point-six million U.S. dollars.

The management firm was accused of selling and maintaining fraudulent financial products that led to the suspension of fund redemption in 2019, amounting to an estimated one-point-seven trillion won.

Kim was also found guilty of misappropriating 40 billion won from Star Mobility, a small industrial robot manufacturing company and other companies.

The 49-year-old was arrested in 2020 and released on bail the following year, but fled after cutting off his ankle bracelet in November 2022 before being caught about a month later.