Samsung heir Lee Jae-yong sentenced to 5 years in prison for corruption

[Perrine]

[quote]A court in South Korea has sentenced Samsung's billionaire heir-apparent Lee Jae-yong to five years in prison for corruption.

Lee was convicted of bribery in a scandal that also saw the impeachment of South Korea's former president.

The case has gripped the public amid growing anger against South Korea's biggest companies, known as chaebols.

Lee, who denied all charges, had faced a jail sentence of up to 12 years.

Also known as Jay Y Lee, the de facto head of the world's largest smartphone maker had been detained since February on a string of corruption charges.

These included bribery, embezzlement and hiding assets overseas.

The 49-year-old is accused of giving donations worth 41bn won ($36m; £29m) to non-profit foundations operated by Choi Soon-sil, a friend of South Korea's former President Park Geun-hye, in return for political favours.

Prosecutors said the donations were made to Ms Park's confidante to win government support for a big restructuring of Samsung that would strengthen Lee's control over Samsung Electronics.

But Lee's defence team said that the payments were signed off without his knowledge.

Lee has previously admitted that the firm also gave a horse and money to help the equestrian career of Choi's daughter, Chung Yoo-ra, but denied seeking favours.[/quote]

[url]http://www.bbc.com/news/business-41033568[/url]

[fancy ghost ☂]

Everything transparent, everyone accountable. For all the shock and instability this corruption scandal will generate, it'll be worth it in the end for the democracy and free determination of South Korea. Now let's see this kind of unveiling over here.

[DIOBRANDO]

[QUOTE=cccritical;52614067]Everything transparent, everyone accountable. For all the shock and instability this corruption scandal will generate, it'll be worth it in the end for the democracy and free determination of South Korea. Now let's see this kind of unveiling over here.[/QUOTE]

Thats like comparing de-weeding your garden to ripping up a mangrove forest root system by hand.

edit - not that South Korea politics are more simple, it is just that the idea of money is power is the literal philosophy of America, and when they're all making great money good luck having them sell each other out. Especially when they have the top lawyers around and won't flat out confess ever.

[Levelog]

[QUOTE=1chains1;52614397]Thats like comparing de-weeding your garden to ripping up a mangrove forest root system by hand.

edit - not that South Korea politics are more simple, it is just that the idea of money is power is the literal philosophy of America, and when they're all making great money good luck having them sell each other out. Especially when they have the top lawyers around and won't flat out confess ever.[/QUOTE]

SK really isn't any different with the chaebols