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Samsung's Lee sentenced to 5 years in prison

Staff Writer | August 25, 2017
A lower court in Seoul sentenced Samsung Electronics Vice Chairman Lee Jae-yong to five years in prison Friday, finding him guilty of bribery, embezzlement and other charges in a massive corruption scandal that led to the ouster of former President Park Geun-hye.
Samsung Lee
Asia   A lower court in Seoul:
The Seoul Central District Court handed down the verdict, saying Lee is believed to have been involved in Samsung's provision of 7.2 billion won ($6.38 million) in bribes for the equestrian training of the daughter of Park's longtime friend and confidante Choi Soon-sil.

Lee was also convicted of embezzlement, hiding assets overseas and perjury.

Prosecutors had demanded a 12-year jail term for Lee on charges that he offered or pledged 43.3 billion won ($38 million) to win the government's blessing for a merger between two Samsung subsidiaries under terms designed to increase his control over the entire Samsung empire.

Lee, who has been under pre-sentencing detention since February, has denied the charges.

Lee is expected to appeal the decision.