Samsung Leader Jay Y. Lee Given Five-Year Jail Sentence for Bribery

Samsung Leader Jay Y. Lee Given Five-Year Jail Sentence for Bribery
Lee Jae-yong, Samsung Group heir arrives at Seoul Central District Court to hear the bribery scandal verdict on August 25, 2017 in Seoul, South Korea. REUTERS/Chung Sung-Jun/Pool
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SEOUL - The billionaire head of South Korea’s Samsung Group, Jay Y. Lee, was sentenced to five years in jail for bribery on Friday in a watershed for the country’s decades-long economic order dominated by powerful, family-run conglomerates.

After a six-month trial over a scandal that brought down the then president, Park Geun-hye, a court ruled that Lee had paid bribes in anticipation of favours from Park.

The court also found Lee guilty of hiding assets abroad, embezzlement and perjury.

Lee, the 49-year-old heir to one of the world’s biggest corporate empires, has been held since February on charges that he bribed Park to help secure control of a conglomerate that owns Samsung Electronics, the world’s leading smartphone and chip maker, and has interests ranging from drugs and home appliances to insurance and hotels.

Lee, who emerged stony-faced from the Seoul courtroom in a dark suit, but without a tie, and holding a document envelope, was escorted by justice ministry officials back to his detention centre.

Lee Jae-yong, Samsung Group heir arrives at Seoul Central District Court to hear the bribery scandal verdict on August 25, 2017 in Seoul, South Korea. (REUTERS/Chung Sung-Jun/Pool)
Lee Jae-yong, Samsung Group heir arrives at Seoul Central District Court to hear the bribery scandal verdict on August 25, 2017 in Seoul, South Korea. REUTERS/Chung Sung-Jun/Pool