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, the acting chairman of Samsung, to five years in prison after finding him guilty of offering bribes and other crimes.
The billionaire, who is South Korea’s third-richest man and heir to the Sprawling Samsung empire, had been accused of making large donations to foundations run by a close friend and confidante of the deposed South Korean president, Park Geun-hye, in return for political favours.
The court said Lee had provided bribes anticipating support from Park, who was still president at the time, according to South Korea’s Yonhap news agency.
The court also found Lee guilty of hiding assets abroad, embezzlement and perjury.
Lee’s lawyers are expected to appeal, and the case could end up being decided by the country’s supreme court, possibly next year.
While the 49-year-old, who is also known as Jay Y Lee, was spared the 12-year term demanded by prosecutors, his sentence is the longest given to any South Korean chaebol leader.
No comments:
Post a Comment