Fidelity bank banner Bayelsa State banner
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: 1,519

•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 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Fleeing Boko Haram terrorists nabbed in Lagos

Use of children as ‘human bombs’ rising in...

Abuja-Kaduna rail project coaches to begin test-run on...

BMW set to begin mass production of electric...

2015: THE BIG UNIPORT FOUR (Jonathan, Amaechi, Wike...

Fulani herdsman rapes 14-year-old girl in Ebonyi

Igbo Nollywood film festival holds August in Awka...

APC LG Congress: Sani-Bello, Committee Chairman commend stakeholders...

NNPC goes into healthcare business

Hoodlums attack churches in Kaduna, injure worshippers

3 pregnant women, 17 others die over free...

Sex-for-marks scandal: OAU suspends embattled professor

 

Latest News In Ekiti, stomach infrastructure has changed hands, By ‘Fisayo Soyombo Hoodlums attack Police Commissioner Imo APC Stakeholders Forum exposes Okorocha Court remands alleged killer of ex-Deputy Governor’s daughter Police arrests cleric for raping student as spiritual cleansing Kaduna residents protest alleged land grabbing by Air Force Dasuki set to regain freedom; Judge signs bail application Couple murdered in their sleep in Anambra Executive Order 6 most potent weapon against corruption, says FG Third Mainland Bridge will be closed for 3 days, not 27 months, says Fashola Killing of Policemen: N5m bounty for information about attackers Ganduje, Emefiele, Dankwambo, Amaechi, others listed for honour

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (361,236 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (357,953 views) Shameless Genevieve Nnaji exposes breasts in public (286,248 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (234,893 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (214,081 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (212,278 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (186,081 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (168,065 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (156,101 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (152,394 views) Lagos plane crash: Journalist releases victims’ names (147,307 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (138,602 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (52) Business & Economy (3,342) Business Verdict (45) Columnists (886) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (516) Features (614) Global Business Monitor (284) International (2,130) Interview (157) Live Commentary (28) Love Matters (127) News (37,171) Opinion (1,022) Pidgin (10) Politics (5,576) Religion (783) Sports (1,610) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

FRANCE vs CROATIA 4-2 Highlights & Goals 2018

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement