DPA
Seoul
Lee Jae Yong, the de facto head of Samsung’s corporate empire, is on his way back to prison after a corruption conviction on Monday, according to Yonhap, a verdict that revives a sentence which had already been handed to him once before being reduced.
The case dates back to a corruption scandal involving former South Korean president Park Guen Hye. According to the verdict, Samsung provided funding to political interests of a Park confidante in exchange for political support for a merger of Samsung subsidiaries which prosecutors say would have tightened the Lee family’s control of the company.
Prosecutors say the bribes amounted to about 30 billion won (27.1 billion dollars).
The charge first came to light in 2016, leading to Lee’s arrest. At the time, he was not chairman of Samsung, but was in de facto control of the conglomerate due to the poor health of its found Lee Kung Hee, who was also Lee Jae Yong’s father.
At the time, the younger Lee was sentenced to five years in prison, but was released after a year when his sentence was reduced to probation.
However, the Seoul High Court - the country’s highest court - reopened the case, leading to Lee’s rearrest last year. He has also since taken more control of the conglomerate, following his father’s death, and remains a senior official at key subsidiary Samsung Electronics.
Monday’s verdict calls for him to go to jail for two and a half years. Prosecutors had called for nine years in jail, Yonhap reported.
Lee "actively” offered Park bribes, Yonhap quoted the verdict as reading.
But Lee’s attorney said he was the victim of Park’s intrigues.
"The nature of this case is coloured by the abuse of power of the former president, who violated the freedom and property rights of a private company,” said attorney Lee Injae in a statement. The company issued no statement. It is unclear if an appeal is planned.
Lee was taken away after the verdict was handed down. South Korean media immediately began speculating what effect his disappearance would have on Samsung, but noted that any key decisions could probably be delayed for the time being.
Seoul
Lee Jae Yong, the de facto head of Samsung’s corporate empire, is on his way back to prison after a corruption conviction on Monday, according to Yonhap, a verdict that revives a sentence which had already been handed to him once before being reduced.
The case dates back to a corruption scandal involving former South Korean president Park Guen Hye. According to the verdict, Samsung provided funding to political interests of a Park confidante in exchange for political support for a merger of Samsung subsidiaries which prosecutors say would have tightened the Lee family’s control of the company.
Prosecutors say the bribes amounted to about 30 billion won (27.1 billion dollars).
The charge first came to light in 2016, leading to Lee’s arrest. At the time, he was not chairman of Samsung, but was in de facto control of the conglomerate due to the poor health of its found Lee Kung Hee, who was also Lee Jae Yong’s father.
At the time, the younger Lee was sentenced to five years in prison, but was released after a year when his sentence was reduced to probation.
However, the Seoul High Court - the country’s highest court - reopened the case, leading to Lee’s rearrest last year. He has also since taken more control of the conglomerate, following his father’s death, and remains a senior official at key subsidiary Samsung Electronics.
Monday’s verdict calls for him to go to jail for two and a half years. Prosecutors had called for nine years in jail, Yonhap reported.
Lee "actively” offered Park bribes, Yonhap quoted the verdict as reading.
But Lee’s attorney said he was the victim of Park’s intrigues.
"The nature of this case is coloured by the abuse of power of the former president, who violated the freedom and property rights of a private company,” said attorney Lee Injae in a statement. The company issued no statement. It is unclear if an appeal is planned.
Lee was taken away after the verdict was handed down. South Korean media immediately began speculating what effect his disappearance would have on Samsung, but noted that any key decisions could probably be delayed for the time being.