Samsung Heir Lee Jae-Yong Sentenced to 2 Years and 6 Months for Corruption

Samsung Electronics Vice Chairman Lee Jae-Yong has been sentenced to two years and six months in prison for misappropriating corporate funds to bribe former South Korean President Park Geun-Hye, who has also been sentenced with similar charges.

Samsung Electronics Vice Chairman Lee Jae-Yong has been sentenced to two years and six months in prison for misappropriating corporate funds to bribe former South Korean President Park Geun-Hye, who has also been sentenced with similar charges.

According to the Seoul High Court, Lee bribed Choi Soon-Sil an associate of Park so that Cheil Industries and Samsung C&T could merge, in order for Lee to succeed and take over the corporation. 

Lee had already been jailed earlier for more than a year before resuming his work in 2018.

Despite his release, the Supreme Court sent back the case to Seoul High Court last year and held a retrial last October 2019. 

Samsung’s had legal oversight committee tried to remove suspicions of corruption from Lee’s case but their findings were not factored into the verdict

Because the Supreme Court had already made a decision, the verdict and the prison sentence will likely be final.

“While the standards of the [legal oversight] committee are practically unsatisfactory, we hope that history will view its establishment as an important milestone in the corporate ethics of South Korea,” said the Supreme Court. 


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