Samsung heir Lee Jae-Yong sentenced to five years in prison

Samsung heir Lee Jae-Yong sentenced to five years in prison

By the Scroll Staff

A South Korean court on Friday sentenced Samsung heir Lee Jae-Yong to five years in prison, finding him guilty of bribery and other crimes. He is convicted in the corruption scandal that led to the dismissal of the country’s former President Park Geun-Hye. Besides bribery, Lee faces charges of embezzlement, hiding assets overseas, concealing profit from criminal acts and perjury, AP reported.

Prosecutors had sought a 12-year term for the Samsung Electronics vice chairman, claiming that he was the ultimate beneficiary in the scam, though Lee had denied any wrongdoing.

Lee had allegedly paid bribes worth 43 billion won (more than Rs 200 crore) to organisations with links to the former president’s confidante Choi Soon-Sil. The 49-year-old is believed to have done it to ensure the merger of two company affiliates in 2015 as well as his control of the family business.

The billionaire Samsung heir became the de facto head of the Samsung Group after his father was incapacitated by a heart attack in 2014. Lee and four others were indicted in February on charges of perjury, corruption and bribery.


This article was originally published on Scroll.in

Featured Image Courtesy: Visual Hunt.

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