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Samsung chief gets 5-year prison term for corruption
World | business | 13:53, 25 August 2017 | 1167

AKIPRESS.COM - The billionaire head of South Korea’s Samsung Group, Jay Y. Lee, was jailed for five years for bribery on Friday after a six-month trial over a scandal that brought down the president, Reuters reported.

Lee had paid bribes in anticipation of favors from then president Park Geun-hye, according to a landmark ruling by a Seoul court, which also found him guilty of hiding assets abroad, embezzlement and perjury.

Lee, the 49-year-old heir to one of the world’s biggest corporate empires, has been held since February on charges that he bribed Park to help secure control of a conglomerate that owns Samsung Electronics, the world’s leading smartphone and chip maker, and has interests ranging from drugs and home appliances to insurance and hotels.

Lee denied wrongdoing.

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