Samsung heir found guilty of corruption and embezzlement

by Frankie Norman August 26, 2017, 1:17
Samsung heir found guilty of corruption and embezzlement

Lee Jae-yong, Vice Chairman of Samsung Electronics, was found guilty of offering bribes to South Korea's former president, Park Geun-hye.

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. He was also found guilty of concealing assets overseas, perjury and embezzlement, though he denied all wrongdoing throughout his trial.

Prosecutors sought a 12-year jail sentence for Lee, who had not denied all charges.

Supporters of the ousted president staged a rally outside the court on Friday to demand Lee's release, facing off against another group of protesters who instead demanded punishment for the Samsung boss.

At the Seoul Central District Court, Lee, the 49-year-old scion of the family behind Samsung, was seen handcuffed and wearing a white rope around his dark-colored jacket.

The five-year sentence is one of the longest ever given to a South Korean business leader.

Other top Samsung execs were also jailed ... Well, He was guilty of bribery and other offences in connection with the scandal that brought down South Korean president Park Geun-Hye.

Lee, who is vice-chairman and de facto head of the technology giant, was convicted of a number of offences, including bribery, embezzlement, and perjury in a significant case for the country. Lee's father is unable to make key business decisions for Samsung due to a heart attack he suffered in 2014. Regardless of the outcome the verdict is a blow to Samsung, which is one of South Korea's largest companies, with share prices falling by one per cent. Immediately after the verdict was handed down, Lee's lawyers said they would appeal it.

The trial of the century started all the way back in winter when the Samsung Electronics heir was charged with bribery, among other things, in a scandal that swept the nation. Lawyers from Samsung said they will appeal.

Lee's father- Lee Kun-hee was previously convicted of tax evasion in 2009 and received a suspended three-year sentence and was reportedly pardoned four months after the ruling.

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