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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."
Treason?
I prefer the "u" in honour as it seems to be missing these days.
Look at the story of the VW engineer getting 2 years in prison, yet no word on the penalty his upper management will pay.
I really get the VW dude.
boss: "do this".
worker bee: "um, isn't that illegal?".
Boss: "let legal handle that".
worker bee: "um, I dunno".
Boss: wanna get fired?
worker bee: "yessir, be done by friday
Ah so most honowable justice system of Kowea finarry dearing with blibelry at highest revers!!11
Trump will get how many years for... Treason?
Probably none.
Hillary will get how many years for...?
Two things you don't want on your resume:
1. Whistle-blower
2. Illegal activity.
You quit and find another job before it happens. Now if afterward you are subpoenaed, then that's a different story like what happened to that accountant for Enron who sent all those internal emails to upper management stating her concerns about those shell companies. She did it the right way.
Because just going public, the company will discredit you and call you a disgruntled employee and most take the employer's word above the employee's every time. And in the meantime, bury any evidence of wrong doing.
Being a hero very very rarely pays - even IF you do get some money, your career is over; so it better enough to live on for the rest of your life - AFTER legal fees.
... more power
we live in a world controlled by the corrupt
I would appreciate some clarification on this. I had always thought that starting a business in East Asia involved a bit of expected bribery. If you want a business license a donation to the licensing board would be needed. Import licenses require more bribery. Police protection also requires the right hands to receive their "fragrant grease". The Samsung exec getting caught bribing is undoubtedly embarrassing for the company and country, but I would be expecting some sort of fancy slap on the wrist punishment (apology, resignation, new reforms promised...)
To be fair it here in the US it is much worse, except it is called "campaign donations".
Please clarify why this wasn't quietly handled and the news suppressed? (business as usual)
Jay "Wily" Y. Lee was up to something? Would have never guessed.
Billionaires are sposed to be above the law!
Does this event affect the company's future? I hope not. https://williamreview.com/pbn-...
http://williamreview.com/
The U.S. should walk away from S. Korea and let them fend for themselves. It's not worth starting WW III over a corrupt little country like that. The time to stomp on N. Korea has long passed. And both Russia and China have shown they won't stand for a U.S. preemptive strike. So now that the entire world is laughing at your leader and you're on the verge of a full on race war the time for changes has come. Stick to chasing your own ass in Afghanistan.
"As Samsung executives, they had a great deal of negative impact on society and the economy."
No kidding. Have you ever tried to use Samsung TVs and PVRs to play your own content? Works great from USB devices, almost never works properly across a network.