Press "Enter" to skip to content

South Korean Court Gives Samsung Scion Lee Jae-yong Prison Term Over Bribery

Lee Jae-yong, Samsung Group inheritor, leaves after his verdict trial on the Seoul Central District Court in Seoul, South Korea on August 25, 2017.

In a much-anticipated retrial on Monday, the Seoul High Court discovered Lee responsible of bribing then-President Park Geun-hye and her shut confidante to win authorities help for a 2015 merger between two Samsung associates. The deal helped strengthen his management over the nation’s largest enterprise group.

  • PTI
  • Last Updated: January 18, 2021, 13:15 IST
  • FOLLOW US ON:

Billionaire Samsung scion Lee Jae-yong is heading again to jail after a South Korean court docket sentenced him to 2 and a half years over his involvement in a 2016 corruption scandal that spurred large protests and ousted South Korea’s then-president.

In a much-anticipated retrial on Monday, the Seoul High Court discovered Lee responsible of bribing then-President Park Geun-hye and her shut confidante to win authorities help for a 2015 merger between two Samsung associates. The deal helped strengthen his management over the nation’s largest enterprise group.

Lee’s attorneys had portrayed him as a sufferer of presidential energy abuse and described the 2015 deal as a part of regular enterprise exercise. It wasn’t instantly identified whether or not he would enchantment. Prosecutors had sought a nine-year jail time period for Lee. Lee helms the Samsung group in his capability as vice chairman of Samsung Electronics, one of many world’s largest makers of laptop chips and smartphones.

Lee, 52, was sentenced in 2017 to 5 years in jail for providing 8.6 billion gained (USD 7 million) in bribes to Park and her longtime good friend Choi Soon-sil. But he was freed in early 2018 after the Seoul High Court decreased his time period to 2 years and suspended his sentence, overturning key convictions and decreasing the quantity of his bribes.

Park and Choi are serving jail phrases of 22 years and 18 years, respectively. In 2019, the Supreme Court returned the case to the excessive court docket, ruling that the quantity of Lee’s bribes had been undervalued. It stated the cash that Samsung spent to buy three racehorses utilized by Chois equestrian daughter and fund a winter sports activities basis run by Choi’s niece additionally needs to be thought of bribes. (AP) .

.

Be First to Comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    %d bloggers like this: