Billionaire Samsung heir Lee Jae- yong jailed for five years

The billionaire heir to the Samsung empire has been
sentenced to five years in prison after being
convicted of offering bribes to South Korea's former
president.
Lee Jae-yong was also found guilty by a panel of
three judges of embezzlement, hiding assets
overseas, concealing profits from criminal acts and
perjury.
The court in Seoul found Lee hoped that bribes to
then-president Park Geun-hye and a close friend
would secure support for a merger that strengthened
his control over the Samsung empire and its flagship
Samsung Electronics business.
It marks the downfall for the scion of South Korea's
richest family, which controls one of the world's
largest consumer electronics companies.
Lee, 49, was accused of offering $38m in bribes to
four entities controlled by Choi Soon-sil, a friend of
Park.
Payments were said to include $6.4m in supporting
the equestrian career of Choi's daughter.
Supporters of former president Park held a rally
outside the court
Samsung has not denied transferring funds.
But Lee, vice-chairman at Samsung Electronics and
the Samsung founder's grandson, had said he was
unaware of the donations, which were overseen by
other executives.
One of Lee's lawyers said he would appeal the ruling
and that he was confident his client's innocence
would be affirmed by a higher court.
The sentencing is the latest episode in a scandal that
saw millions of South Koreans protest last autumn,
leading Park to be ousted.
Park was removed from office in March. She and
Choi are both currently on trial.
Supporters of the former president rallied outside
court to demand Lee's acquittal.
Other executives charged alongside Lee have also
been convicted - with two jailed for four years each
and two others receiving suspended sentences.
Samsung, founded in 1938, epitomises South Korea's
economic resurgence after the Korean War in the
1950s.
Powerful family controlled business groups helped
catapult the country from poverty to becoming a
global economic power.
But there has been increasing concern over the cosy
relationships between these groups and politicians -
and over a series of corruption scandals

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