The prosecution has indicted independent lawmaker Lee Sang-jik, who is accused of embezzlement and dereliction of duty as the founder of the cash-strapped budget carrier Eastar Jet. 

The Jeonju District Prosecutors’ Office said on Friday it indicted Lee on charges of breach of trust, embezzlement and violation of the political party law. The indictment came 16 days after the 58-year-old lawmaker was arrested and 10 months after Eastar pilots’ labor union filed a criminal accusation against him. 

Lee, a former ruling Democratic Party representative, is suspected of causing about 44 billion won in financial damage to the airline by underselling company shares to a subsidiary whose major shareholders include his children. 

He is also accused of causing around five-point-six billion won worth loss to Eastar affiliates, including by artificially raising or lowering the values of their corporate bonds.  

The prosecution also believes the second-term lawmaker embezzled five-point-36 billion won of Eastar Jet and affiliates' funds between 2013 and 2019.