NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
BREAKING: Samsung heir jailed for corruption

By News Express on 25/08/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,378

•Convicted Samsung heir Lee Jae-yong. Photo: Getty Images.
•Convicted Samsung heir Lee Jae-yong. Photo: Getty Images.

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

Mr Lee was accused 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.

Mr 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 including bribery, embezzlement and hiding assets overseas.

The 49-year-old was 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 Mr Lee’s control over Samsung Electronics.

A lawyer for Mr Lee has said already said they will appeal against the decision.

“We are confident the ruling will be overturned,” lawyer Song Wu-cheol told reporters after the ruling, according to Reuters.

Nevertheless this ruling represents a huge blow to South Korea’ biggest and most well-known business empire. Since the verdict, Samsung shares fell by 1%.

The conviction raises questions about Mr Lee’s leadership of the conglomerate. He has been standing in as chairman since his father, Lee Kun-hee, suffered a heart attack in 2014.

The Samsung scandal contributed to President Park’s eventual impeachment. Her friend Choi Soon-sil has already been jailed for three years for corruption. (BBC)

Source News Express

Posted 25/08/2017 09:30:47 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
FG to crack down on cattle rustlers, militant...

Cameroon storms FIFA over ban

Okowa expresses joy over drop in HIV/AIDS prevalence,...

TIME TO OVERCOME do-nothing politics

“Pornography, a sin against God”

CBN bans withdrawals from bank accounts without BVN...

Battle royale in the Senate as PDP insists...

Mothers-in-law

Buhari orders investigation into alleged sexual abuse, exploitation...

5,799 unemployed Ogun residents selected for FG’s N-Power...

Poverty affecting implementation of UNICEF programmes in Nigeria...

NDIC appeals for prompt payment of premium contributions...

 

Latest News BREAKING NEWS: Senate calls for Buhari’s impeachment APC shifts congresses, National Convention Big Brother Naija sponsor, Payporte, in N23m debt mess, begs court to dismiss winding up suit Democracy under threat: Southern, Middle Belt leaders IGP Ibrahim Idris disrespecting me and the Senate — Saraki Shell profits jump as oil prices soar Troops nab militias in Nasarawa, recover arms Abnormal herdsmen behind Benue killings — Presidency Umahi orders arrest of policeman over alleged killing of Okada rider INVESTIGATION: Former DG NEMA, Sidi Ali, maintained 20 bank accounts — Reps Revenue discrepancies: FAAC meeting fails to hold again 2019: Senator Abe joins Rivers guber race

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (340,149 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (335,249 views) Shameless Genevieve Nnaji exposes breasts in public (268,207 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (220,556 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (202,351 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (198,439 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (173,167 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (155,525 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (147,329 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (139,325 views) Lagos plane crash: Journalist releases victims’ names (137,121 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,787 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,077) Business Verdict (40) Columnists (839) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (485) Features (570) Global Business Monitor (267) International (1,929) Interview (149) Live Commentary (28) Love Matters (116) News (34,771) Opinion (917) Pidgin (10) Politics (4,823) Religion (724) Sports (1,487) Stock Watch (28) AMA & Al Jazeera Global Update

 

Firstmobile banner

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement