Seoul(August 25, 2017): South Korean court has sentenced the billionaire Samsung heir Lee Jae-yong to five years in prison after finding him guilty of offering bribes to the country’s former president and other crimes.
It said Lee was also guilty of embezzlement, hiding assets overseas, concealing profit from criminal acts and perjury.
The court said Lee hoped bribes for Park Geun-hye at the time she was president and her close friend Choi Soon-sil would secure government support for a merger that strengthened Lee’s control over the Samsung empire and its flagship Samsung Electronics at a crucial time. Park and Choi also have trials under way.
The Seoul Central District Court delivered its verdict. Lee, who denied wrongdoing, has been in detention since February. A lawyer for Lee later said the defence team could not accept the court ruling and would appeal against the decision.