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Samsung heir sentenced to 5 yrs prison

Samsung

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.

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