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Samsung Chief Jailed For Five Years For Bribery and Perjury (koreaherald.com)
A South Korean court on Friday sentenced Samsung Electronics Vice Chairman Jay Y. Lee to five years in jail on charges connected to the corruption scandal that led to former President Park Geun-hye's ouster. The Korea Herald reports: The Seoul Central District Court convicted Samsung's de facto heir of bribing former President Park Geun-hye and her close friend Choi Soon-sil in return for the government's help in tightening his control over Samsung Group, saying he was in position to benefit most from the bribery scheme. Lee, who has been detained since February, was found guilty of all five charges -- bribery, embezzlement, concealment of criminal proceeds, illegal transfer of assets overseas and perjury. The court said Lee and Samsung executives offered large bribes to the president, who held "immense power and the ultimate authority," and embezzled company funds, hid assets overseas and concealed profits from criminal acts in the process, all expecting a favor in the form of Samsung Group's smooth leadership transition. Lee is the first member of Samsung Group's ownership family to be sentenced to jail. He is set to appeal the decision. "The essence of the case is collusive ties between political power and capital power," presiding Judge Kim Jin-dong said. "As Samsung executives, they had a great deal of negative impact on society and the economy."
I really get the VW dude.
I don't think you do...
Check out my my comment on that story...
Besides, getting convicted and serving jail time seems to be a Samsung leadership right of passage...
His father, Samsung chairman Lee Kun-hee, was twice sentenced to prison -- and twice pardoned.
Serving jail time "is like a rite of passage," David Kang, director of the University of Southern California's Korean Studies Institute, said in an interview before the verdict was announced. "The question will really be how long does he serve."