South Korean court sentences Samsung heir to 5 years prison
A South Korean court has sentenced the billionaire Samsung heir to five years in prison for bribery and other crimes that fed public anger leading to the ouster of Park Geun-hye as South Korea's president.
The Seoul Central District Court said Friday that Lee Jae-yong, 49, was
guilty of offering bribes to the former president and her close friend
to get government support for efforts to cement his control over the
Samsung empire.
A panel of three judges also found him guilty of embezzling Samsung
funds, hiding assets overseas, concealing profit from criminal acts and
perjury. Prosecutors had sought a 12-year prison term.
The verdict is a stunning downfall for a princeling of South Korea's richest family that controls one of the world's largest consumer electronics companies.
Lee was accused of offering $38 million in bribes to four entities
controlled by Choi Soon-sil, a friend of Park, in exchange for
government help with a merger that strengthened Lee's control over
Samsung at a crucial time.
Samsung has not denied transferring corporate funds. But Lee, vice
chairman at Samsung Electronics and the Samsung founder's grandson,
claimed innocence during the court hearing. He said he was unaware of
the foundations or the donations, which were overseen by other
executives.
The closely-watched verdict is the latest convulsion in a political
scandal that prompted millions of South Koreans to protest last fall,
culminating in the ouster and arrest of Park as well as the arrests of
Choi and Lee, one of South Korea's most powerful tycoons,
Park, who was embroiled in a tumultuous series of scandals, was removed
from office in March. She and Choi are both currently on trial.
The ruling in Lee's case can be appealed twice.
Other former Samsung executives charged with Lee were also found guilty.
Choi Gee-sung, a mentor of Lee, and Chang Choong-ki were sentenced to
four years in prison. Two other former executives received suspended
prison terms.
Source: abc news
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