Samsung Heir Sentenced To Five Years Prison
A South Korean court has sentenced Samsung Electronics vice chairman Jay Y. Lee to five years prison after being found guilty of bribery, embezzlement and perjury.
The court said Lee, the grandson of Samsung founder Lee Byung-chul, is believed to be involved in bribes of 7.2 billion South Korean won (about $8.1 million) that were handed out in an effort to gain government support for the merger of two Samsung subsidiaries.
The money funded equestrian training for the daughter of a close friend of former South Korean president Park Geun-hye.
Lee, who has denied all of the allegations against him, is expected to appeal the decision.