Seoul: Samsung heir Lee Jae-Yong was sentenced to five years in prison on Friday for bribery, perjury and other crimes.
A bribery and cronyism scandal that has already toppled a South Korean president has claimed a major business scalp after a court sentenced Lee Jae-yong, 49, the acting chairman of Samsung, to 5 years in prison after finding him guilty of offering bribes and other crimes.
Lee, princeling of South Korea’s richest family and its biggest company, is accused of offering $38 million in bribes to four entities controlled by a friend of Park in exchange for government help with a merger that strengthened Lee’s control over Samsung at a crucial time.
Park, who was embroiled in a tumultuous series of scandals, was removed from office in March and is being tried separately. Her friend Choi Soon-sil also is on trial.
However, Lee has denied the allegations against him.