Ex-First Lady’s Former Investment Manager Sentenced in Lobbying Case

A Seoul court sentenced Lee Jong-ho, former head of Blackpearl Invest and a close associate of former first lady Kim Keon Hee, to one and a half years in prison for offering to assist a suspect in a stock price manipulation scheme in exchange for financial compensation. The sentencing, handed down by the Seoul Central District Court on February 13, 2026, found Lee guilty of violating the Attorney-at-Law Act. Korea JoongAng Daily

Details of the Case

Lee Jong-ho received over 80 million won (approximately $55,400) between June 2022 and February 2023, promising to help secure a lighter sentence for an individual involved in a stock price manipulation scheme related to Deutsch Motors, a BMW dealership in Korea. Korea JoongAng Daily

The court ordered Lee to forfeit 79.1 million won, acknowledging that some of the funds’ intended purpose as lobbying efforts could not be definitively established. Korea JoongAng Daily

Lee Jong-ho’s Connections and Previous Investigations

Lee Jong-ho is known for his close relationship with former first lady Kim Keon Hee, having previously managed her financial accounts. Korea JoongAng Daily

Prior to the sentencing, Lee was investigated by a special counsel team led by Min Joong-ki. He was initially summoned for questioning on July 21, 2025, regarding suspicions surrounding Kim Keon-hee related to stock manipulation. Financial News He was subsequently re-summoned on July 23, 2025, after initially failing to comply with the investigation. Chosun Biz

A search and seizure warrant was executed at Lee’s residence and vehicles in Seongnam, Gyeonggi Province, on July 19, 2025, identifying him as a suspect for violating the Attorney-at-Law Act. Financial News

Kim Keon-hee’s Involvement

While the special counsel team initially charged Kim Keon Hee with involvement in the scheme, a Seoul court found her not guilty of acting as an accomplice. Korea JoongAng Daily