Seoul, Oct 5 (IANS): A South Korean court on Friday sentenced former President Lee Myung-bak to 15 years in jail and fined him 13 billion won ($11 million) on multiple corruption charges, making him the fourth former leader to be criminally convicted.

In the live televised trial, the Seoul court ruled Lee, 76, is the de facto owner of his brother's company, DAS, which is at the centre of the the scandal, reports Yonhap News Agency.

The court said he told DAS officials to create slush funds and are responsible for a range of irregularities involving the company. Lee has long been suspected of being its real owner.

Lee, President from 2008-2013, was indicted in April on 16 counts that include bribery, embezzlement and abuse of power. Prosecutors had demanded 20 years in prison for Lee.

Of the 35 billion won prosecutors alleged Lee had embezzled, the court only acknowledged 24 billion won, citing a lack of evidence.

Lee was not present at Friday's hearing in protest at the court's decision to allow live TV coverage of the hearing.