Samsung heir Lee Jae-yong jailed for corruption

guilty of $6.38 million, in bribes

SEOULĀ 26 August 2017: A lower court in South Korea has sentenced Samsung Electronics Vice Chairman, Lee Jae-yong, to five years in prison on Friday, finding him guilty of bribery, embezzlement and other charges in a massive corruption scandal that led to the ouster of the former President, Park Geun-hye.

The Seoul Central District Court handed down the verdict, saying Lee is believed to have been involved in Samsung’s provision of US$6.38 million, in bribes for the equestrian training of the daughter of Park’s longtime friend and confidante, Choi Soon-sil, the Yonhap New Agency reported.

Lee was also convicted of embezzlement, hiding assets overseas and perjury, said Wam.

Prosecutors had demanded a 12-year jail term for Lee on charges that he offered or pledged US$38 million to win the government’s blessing for a merger between two Samsung subsidiaries under terms designed to increase his control over the entire Samsung empire.

Lee, who has been under pre-sentencing detention since February, has denied the charges. He is expected to appeal the decision.

By Angel Chan