Samsung chief Jay Y. Lee given 5-year jail sentence for bribery

(Reuters) – The millionaire mind of South Korea’s Samsung Group, Jay Y. Lee, was jailed for 5 years for bribery on Friday following a six-month trial more than a scandal that introduced lower obama.

Lee had compensated bribes awaiting favors from then president Park Geun-hye, based on a landmark ruling with a Seoul court, that also found him responsible for hiding assets abroad, embezzlement and perjury.

Lee, the 49-year-old heir to among the world’s greatest corporate empires, continues to be held since Feb on charges he bribed Park to assist secure charge of a conglomerate that owns Samsung Electronics, the world’s leading smartphone and nick maker, and it has interests varying from drugs and residential appliances to insurance and hotels.

Lee denied wrongdoing.

Certainly one of his lawyers, Song Wu-cheol, stated Lee would appeal the low court ruling.

“The entire verdict is unacceptable,” Song stated, adding he was confident his client’s innocence could be affirmed with a greater court.

Under South Korean law, sentences in excess of 3 years cannot be suspended. The 5-year sentence is among the longest prison terms provided to a South Korean business leader.

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