Samsung Heir Lee Jae-yong Jailed for Five Years for Corruption

Jay Y. Lee Jay Y. Lee samsung Jay Y. Lee hearing Jay Y. Lee bribery Jay Y. Lee supreme court seoul Uijeongbu jay y. lee de facto head of South Korean samsung jail world news indian express news

A South Korean court has sentenced acting chairman of Samsung, Lee Jae-yong, to five years in prison after finding him guilty of issuing bribes and attempting to exert his position to influence political matters.

The Seoul Central District Court said Samsung's financial support of entities backed by Park's close friend, Choi Soon-sil, constituted bribery, including 7.2 billion won ($6.4 million) in sponsoring the equestrian career of Choi's daughter.

Lee, who was arrested in February, is the vice chairman of Samsung Electronics, the world's largest smartphone maker.

A South Korean court has found Samsung vice-chairman Lee Jae-yong guilty of corruption. Alongside Lee, four other executives were convicted and charged; two with four year jail sentences and two received suspended sentences. The five-year sentence is one of the longest prison terms given to a business leader in South Korean history. He also laid some of the blame on Park, saying the former president made "aggressive demands" of Samsung.

In the wake of the corruption scandal - which led to the impeachment of Ms. Park - the current president, Moon Jae-in, campaigned on holding South Korea's corporate empires to account.

Samsung reveals Galaxy Note8 with 'infinity display', Bixby, 4 colors
This time around it comes with a finer tip, improved pressure sensitivity, and can even be used to take screen-off memos. The camera app offers a "Dual Capture" mode that stitches together photos from both cameras and saves them individually.

Samsung's biggest task now will be to manage its vast business, which accounts for about one-fifth of South Korea's exports, without the "crown prince of the Lee family at the helm", notes The New York Times.

Driven by their belief of Park's innocence over a scandal that brought her down, many protesters, mostly older women and men, turned out for Lee, whose conviction, they believe, would nearly certainly mean a guilty verdict for Park in her trial.

The company will have a prolonged absence of leadership following this conviction, a situation that could impact the electronic giant's future in the tough game.

"The essence of this case is the unethical bond between politics and money", said Judge Kim Jin-dong.

Sources said that the case may end up being decided in the apex court of the country next year and Yong's lawyers are expected to appeal to this judgement. Lee's father was twice convicted and twice pardoned.

Related:

Comments

Latest news

Arrest warrant issued for former Thai Prime Minister Yingluck Shinawatra
Their Puea Thai party has - under various different names - won every election in Thailand since 2001. The judge says the court did not believe the explanation and would issue a warrant for her arrest.

Hong Kong transport resumes after typhoon, Macau struggles to recover
Hato was downgraded to a tropical depression yesterday afternoon as it travelled further into China. More than 120 people were injured as the city was lashed by hurricane winds and pounding rain.

Trump Targets New Venezuelan Debt in Latest Round of Sanctions
A woman held a sign at the event that read, "Venezuelan resistance asks for military resistance". Two other mayors told Pence the US government should impose more sanctions.

Babylonian mystery solved: 3700-year-old 'Indiana Jones' tablet reveals its secrets
An ancient Babylonian tablet discovered in the early 1900s has always been a puzzle to scientists. The tablet is now kept in the Rare Book and Manuscript Library at Columbia University in NY .

Amazon unveils Prime discounts, Lockers at Whole Foods
The company also said certain Whole Foods products will be available through Amazon .com, AmazonFresh, Prime Pantry and Prime Now. Kroger's stock was down 8.3 percent and Sprouts Farmers Market went down 6.6 percent.

Taylor Swift Sorry Girl ... You're Gonna Miss Kim and Kanye at VMAs
Kim Kardashian may have used a filtering tool to stop the snakes , which was ironically created for Taylor Swift past year . The same thing happened on Friday, when Taylor's fans tried to give Kim and her fans the snake treatment.

'These are the moments that make India', Kamal Haasan hails Aadhaar verdict
He also said the state is under an affirmative obligation to protect the fundamental rights of its citizens. It is contended and broadly it is now accepted that privacy is a part of the individual liberty.

Submarine owner Peter Madsen could be charged with murder
Wall alternated her life between NY and Beijing, but had worked all over the world for a variety of magazines and newspapers. Danish naval authorities launched a rescue operation and Madsen was picked up by a private boat between Denmark and Sweden .

Mexico: Trump Warning to Cancel NAFTA is Only a Strategy
During the presidential campaign, he promised Americans to pull the country out of " useless and unprofitable " trade pacts. Although many Americans have benefited from NAFTA , Lighthizer said that the agreement has "failed. countless Americans".

'The Hangover' director developing Joker origin movie that won't star Jared Leto
But Jared Leto shouldn't clear his schedule, since this movie will feature a different - and maybe younger - actor in the role. While the show has yet to outright label him as " Joker ", Jerome Valeska does have the maniacal laugh mastered.

Walmart, Google Unite Voices vs. Amazon
Walmart also plans to integrate its quick reordering tool into the tech company's same-day delivery service, Google Express . Google and Walmart announced a new partnership by adding Walmart into the Google Home speaker ecosystems.

Taylor Swift's new song comes out Thursday, new album due November 10
There's been suspicion that a new album, or at least a new song, was on its way through the past few days. Thus, with all of the controversy lately, critics have been quick to call her reputation into question.

Malaysia cracks down on match-fixing in Southeast Asian Games
Mary Joy Tabal delivered her promise to bag the country's first gold medal when she topped the women's marathon event. The finals session is set to begin tonight at 7 pm local time at the National Aquatic Centre at Bukit Jalil.

'Rocket League' on the Nintendo Switch gets exclusive Mario, Luigi-themed cars
Based on your team's side you will be assigned either Mario NSR (for the orange team) or Luigi NSR (for the blue team). Rocket League on Switch will have crossplay with the Xbox One and Steam versions and will launch later this year.

Samsung is working on a Bixby-powered smart speaker
Samsung does have the benefit of integrating Bixby into its own devices with its flagship phone having a dedicated Bixby button. The president of Samsung's mobile division confirmed today that a smart spacer will be launched sometime in the near future.

Other news