Samsung’s Heir Gets Convicted For Corruption, Sentenced For 5 Years In Jail

Samsung's Heir

A South Korean court sentenced Lee Jae-Yong the heir of Samsung for bribery and corruption. This sentencing escalated the turmoil South Korea is facing for a while which started from the impeachment of their president Park Geun-Hye.

Lee Jae-Yong was convicted for a number of crimes including bribery, corruption and perjury. He is the 3rd richest man in South Korea and is arguably the most powerful man in the country. He was accused of giving a large donation to a friend of the president. Lee accepted that he gave bribery to Pak Geun-Hye for political favour. Also, he said that Park forced him to pay and he didn’t have any other choice.

Park Geun- Hye is facing a possible life sentence. As a result, the capture of Lee closed any escaping routes of the former president. She was found guilty for many scandals, abuse of power, bribery and leaking government secrets. Both of their cases are very closely related.

Samsung’s Reaction

Samsung attorney Song Woo-cheo said, “As a lawyer I cannot possibly agree with the juridical decisions and acknowledged facts involved in the verdict,”. Therefore they are going to appeal against the ruling. Though the case is looking pretty hard for Lee Song confidently said, “We will appeal against the decision and I am sure that in the appellate trial all the charges will be dismissed.”. Lee’s case will be brought in to the supreme court next year.

His lawyers tried to prove that he had very little to do with the everyday day business of Samsung. Though the court found it very hard to believe.

Lee stayed calm after the ruling after the court found him guilty of bribery, embezzlement, hiding assets overseas, concealing profit from criminal acts and perjury. Not only Lee but 4 other top executives of Samsung was also found guilty.

Samsung’s overall business is not been affected by this sentencing. They recently launched their new flagship smartphone Note 8.