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Former South Korean President Sentenced To 15 Years In Prison For Accepting $5.4 Million In Bribes From Samsung (npr.org)
South Korea's former president, Lee Myung-bak, was sentenced Friday to 15 years in prison for bribery and embezzlement. He will also have to pay $11.5 million in fines. NPR reports: Lee is the second South Korean leader convicted this year of charges of corruption and the fourth former president to be arrested for corruption since the 1990s. Prior to entering politics, Lee had been an executive at Hyundai and campaigned on a promise to help South Korea's economy grow. Lee served as president of South Korea from 2008 until 2013. A court ruled Friday that before and during his presidency Lee accepted $5.4 million in bribes from Samsung, South Korea's largest conglomerate.
In exchange, Lee had granted a presidential pardon to Lee Kun-hee, Samsung's chairman, who had been convicted of embezzlement and tax evasion. The conviction had forced Lee Kun-hee to resign from Samsung in 2008; he returned to work at the company shortly after receiving the presidential pardon. The court also found that former president Lee disguised his ownership of a lucrative auto-parts maker under the names of his relatives and embezzled 24 billion Korean won from the company, according to The New York Times. Samsung later offered to pay legal fees for a court case involving the auto-parts company. Lee, who did not appear in court on Friday, denied the charges. "During the hearings, he shifted the blame to his aides, accusing them of committing the crimes for their own profit and conspiring against him," Judge Chung Kae-seon said on Friday, according to The Times.
In exchange, Lee had granted a presidential pardon to Lee Kun-hee, Samsung's chairman, who had been convicted of embezzlement and tax evasion. The conviction had forced Lee Kun-hee to resign from Samsung in 2008; he returned to work at the company shortly after receiving the presidential pardon. The court also found that former president Lee disguised his ownership of a lucrative auto-parts maker under the names of his relatives and embezzled 24 billion Korean won from the company, according to The New York Times. Samsung later offered to pay legal fees for a court case involving the auto-parts company. Lee, who did not appear in court on Friday, denied the charges. "During the hearings, he shifted the blame to his aides, accusing them of committing the crimes for their own profit and conspiring against him," Judge Chung Kae-seon said on Friday, according to The Times.
This guy was clearly an amateur. He should have looked to western politicians if he wants to see how to legally receive large bribes from corporations. All he need do is call them campaign donations and everything becomes perfectly acceptable and aboveboard.
It is good to see corruption in politics being punished for once. In the US you can hold a Senate hearing for Facebook where 46 of the 55 committee members have been paid off by Facebook in advance and nobody even bats an eyelid.