Samsung CEO sentenced to 5 years in prison

Samsung CEO sentenced to 5 years in prison

Categories: Asia | News

The actual head of Samsung Electronics was sentenced to 5 years for bribery. At the same time, the prosecution asked for 12 years in prison for corruption, embezzlement and perjury for the heir of the corporation. The case of the vice president of Samsung is connected with the corruption scandal that broke out around the former president of the country Park Geun-hye.

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Samsung CEO sentenced to 5 years in prison

The Seoul Central District Court on Friday found vice president and de facto head of Samsung Electronics Co. Lee Jae-yong guilty of bribery, embezzlement and perjury and sentenced him to five years in prison, Yonhap reports.

Samsung CEO sentenced to 5 years in prison

According to the court decision, the 49-year-old billionaire was found guilty of bribery in the amount of about $ 6.38 million, embezzlement, hiding assets abroad, concealing profits from criminal acts and perjury. The hearings in the case of Lee Jae-yong, which in South Korea was dubbed the "court of the century", lasted almost five months.

Samsung CEO sentenced to 5 years in prison

The verdict of the court says that Lee Jae-yong gave bribes to enlist the support of the president of the country. In exchange for bribes, Samsung expected to receive state support for the controversial merger of its two branches. This operation was supposed to allow Lee Jae-en to consolidate his control over the Samsung group of companies founded by his father Lee Gong-hee.

The prosecution, based on the results of the investigation, demanded 10 years in prison for three more Samsung top managers. The court's decision could deal a significant blow to Samsung, which faces a prolonged absence of actual leadership. Shares of Samsung Electronics fell by 1.1% after the announcement of the court decision.

Samsung CEO sentenced to 5 years in prison

This process is a continuation of the political crisis in the country and a loud series of revelations, which resulted in the impeachment of former South Korean President Park Geun-hye (pictured). The scandal broke out at the end of October 2016, when media representatives found a tablet with secret documents. He, as it turned out later, belonged to the girlfriend of the president Choi Soon-sil, who did not hold any government posts. However, this woman, according to many ex-politicians, actually ruled the country from behind the head of state.

Samsung CEO sentenced to 5 years in prison

Mass demonstrations were held in South Korea demanding the resignation of the president, who was popularly nicknamed "chicken". In December, the People's Assembly voted for the impeachment of the head of state, and on March 10, she was finally dismissed and taken into custody, charged with bribery, abuse of power, and disclosure of classified information to people who are not civil servants. She is expected to be sentenced in October.

Keywords: Samsung | Corruption | Court | South Korea

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