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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.
But what of Samsung?
Several top board members including the CEO were already arrested, their trials are forthcoming. The case against park was proving that she took bribes. Now that it's been proven and she's been impeached the cases against the CEO and board members go forward. Those are in relation that they paid her bribes and embezzled money from the company to do so. This really isn't covered in western media in the least. The legal system works in kind of a top-down approach with high profile figures and then goes after everyone. If you need another example read up on Hyandai Motor Co, which was fined $80m(USD), they also went after every single person that approved it.
Om, nomnomnom...