Samsung heir Lee Jae-yong has played a large role in the scandal which led to the impeachment of former president Park Guen-hye. Lee has been sentenced as guilty of bribery, embezzlement, hiding assets overseas, concealing profit from criminal acts and perjury.
He is not only a billionaire, but South Korea’s third richest man and the heir to Samsung’s throne, after his father died recently from a heart attack. He has been accused of making large donations to foundations run by close friend and confidante of the deposed South Korean president Park Guen-hye. He made these payments in return for political favours, such as support from the then president.
The acting chairman of Samsung has been sentenced to five years in prison. This is the longest sentence ever given to any South Korean chaebol leader. There was a lot of pressure from the public to find him guilty, and the company’s attorney has already said he wishes to appeal these accusations. The case could make it to the Supreme Court in South Korea. Four other Samsung executives were convicted and received sentences of up to four years.
It will be interesting to see what happens next in this high-profile court case.
For more details on this case, please see below: