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Samsung Billionaire Heir Gets 2.5 Years Prison For Bribery


Aizbah KhanWeb Editor

18th Jan, 2021. 10:29 pm
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Samsung Billionaire Heir Gets 2.5 Years Prison For Bribery

Samsung heir Lee Jae Yong has been sentenced to two-and-a-half years in prison on bribery charges, ending a four-year court battle.

Lee Jae Yong is accused of indirectly bribing former South Korean President Park Geun-hye to gain billions of dollars for political gain and support.

He was charged in 2016 with corruption and bribery.

The Samsung official was accused of indirectly bribing the former female president when the former female president had to step down due to corruption allegations.

Lee Jae Yong was convicted by a court in 2017 of bribery, corruption and fraud and sentenced to five years in prison, but was later suspended by the Seoul High Court.

The South Korean Supreme Court overturned the ruling in August 2019 and ordered a new trial.

Lee Jae Yong was found guilty of influencing the former South Korean president through his wealth, which benefited the company.

During the final hearing of the trial, Lee Jae Yong apologized and promised not to transfer the power and authority of a new Samsung to his children.

The decision was made on the basis of an investigation by an independent committee set up by the court, which was set up to monitor the actions of Samsung officials.

Lee Jae Yong’s troubles are not over as he faces fraud and stock monopoly trials.

In the trial, Lee Jae Yong was charged with systematic fraud in order to inherit Samsung.

However, it is still possible that after his release from prison, he will become the chairman of Samsung, a position that fell vacant after the death of his father last year.

 

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