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South Korea: Samsung Group Chief Jay Y. Lee sentenced to five years imprisonment on charges of bribery
Posted on: 25-08-2017 , 03:50:PM | DY365 Bureau

 Picture Courtesy:Independent

August 25, 2017: Triggering sensation the Chief of Samsung Business Empire, Jay Y. Lee has been sentenced five years of imprisonment by the Seoul Central District Court on Friday.

Reportedly, Lee is convicted of bribery and other corruption offences in connection with the scandal that brought down South Korean president Park Geun-Hye.
Lee was found guilty of bribery, embezzlement, perjury and other charges centered on payments and promises by Samsung totaling 43.3 billion won (around $40 million) to Park's secret confidante Choi Soon-Sil in exchange for government support for a merger that helped him tighten control over Samsung.
A lawyer for Samsung Group leader Jay Y. Lee said on Friday the defense team could not accept a court ruling to jail Lee for five years for bribery and will appeal against the decision stating that Samsung was pressured by Park to make the donations under threats and that Lee was not aware of them and did not approve them. Four other top Samsung executives were also convicted and received sentences of up to four years.
The 49-year-old executive has been the de facto leader of Samsung since his ailing father was left incapacitated by a 2014 heart attack.
It maybe stated that this verdict has come as a blow against Samsung Group, the world's largest smart phone maker and South Korea's biggest family-run merger whose businesses are estimated to account for around 15% of the country's entire economy.

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