Samsung vice-chairman sentenced to five years in prison

Jay Y. Lee Jay Y. Lee samsung Jay Y. Lee hearing Jay Y. Lee bribery Jay Y. Lee supreme court seoul Uijeongbu jay y. lee de facto head of South Korean samsung jail world news indian express news

And for 22 billion won in donations to foundations allegedly controlled by Choi, the court said Lee was not guilty as Samsung had no alternative but to comply with Park's browbeating.

Lee had paid bribes in anticipation of favors from then president Park Geun-hye, according to a landmark ruling by a Seoul court, which also found him guilty of hiding assets overseas, embezzlement, and perjury. Previous reports alleged that the money was paid out to win favor from the country's state pension fund, which supported a merger between two Samsung affiliates in 2015.

Mr Lee's lawyer said they will appeal.

A spokesman for new South Korean president Moon Jae-in said that he hoped that Lee's case would be "an opportunity to eradicate the longstanding cozy relations between politics and business, which have been an obstacle to further advancing our society". Finally, ended with a verdict offering 5 years of imprisonment for the Samsung Vice-President Jae Yong Lee.

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After the scandal was unearthed, he was facing multiple charges, including bribery, misappropriation and perjury, centred on payments and promises by Samsung totalling 43.3 billion to ousted president's aide Choi Soon-Sil.

Many tycoons, including Lee's father, were convicted of crimes in the past, ranging from bribery, embezzlement and tax evasion, only to get presidential pardons, as both the government and the public feared that going too hard on them would hurt the economy.

The billionaire head of Samsung has on Friday been sentenced to five years in prison. It's part of a huge influence-peddling scandal that brought down the government of former President Park Geun-hye. Four other former top Samsung executives were also convicted. Samsung was once a company which was nearly single-handedly responsible for the economic upheaval of South Korea following the Korean War.

The company will have a prolonged absence of leadership following this conviction, a situation that could impact the electronic giant's future in the tough game. He was sentenced to five years in prison in connection to a bribery scandal that took down the nation's president, Park Geun-hye.

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