Brother of S Korean president jailed on corruption charges

The older brother of South Korean President Lee Myung Bak was jailed early Wednesday after a Seoul court issued a warrant to arrest him on bribery charges. Hours after appearing before a judge Tuesday, 76-year-old Lee Sang Deuk was taken to the Seoul Detention Centre. The prosecutor accused Lee Sang Deuk, a former legislator, of taking 600 million won (524,000 dollars) from two troubled savings banks. In return, he is alleged to have helped Solomon Savings Bank and Mirae Savings Bank to avoid regular audits. The chairman of the Solomon Savings Bank is in detention on charges of making illegal loans. In May, financial supervisors ordered the closure of both banks as well as two others. Observers have said that the case against Lee Sang Deuk has damaged the standing of the president. Lee Sang-deuk, a former lawmaker of the ruling party, has become the first brother of a sitting president to be put under arrest in modern Korean history, dealing a serious blow to President Lee, who is fighting lame-duck status in his final months in office, the official (Yonhap) news agency reported.