South Korean court sentences Samsung heir to 5 years prison
SEOUL, Korea, Republic Of — A South Korean court sentenced the billionaire chief of Samsung to five years in prison for crimes that helped topple the country’s president, a stunning downfall that could freeze up decision making at a global electronics powerhouse long run like a monarchy.
The Seoul Central District Court said Friday that Lee Jae-yong, 49, was guilty of offering bribes to Park Geun-hye when she was South Korea’s president, and to Park’s close friend, to get government support for efforts to cement his control over the Samsung empire. The revelations that led to Lee’s arrest in February fed public outrage which contributed to Park’s removal.
A panel of three judges also found Lee guilty of embezzling Samsung funds, hiding assets overseas, concealing profit from criminal acts and perjury. Prosecutors had sought a 12-year prison term.
The court said Lee and Samsung executives who advised him caused “a big negative effect” to South Korean society and its economy.