Samsung heir sentenced to five years in prison

Seoul Aug 25 (IANS) A South Korean court on Friday sentenced Samsung Electronics Vice Chairman Lee Jae-yong to five years in prison after finding him guilty of bribery and embezzlement in a massive corruption scandal that led to the ouster of former President Park Geun-hye.

The Seoul Central District Court handed down the verdict saying Lee is believed to have been involved in the provision of 7.2 billion won ($6 million) in bribes for the equestrian training of the daughter of Park s longtime friend and confidante Choi Soon-sil reports Yonhap News Agency.

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 approval for a merger between two Samsung subsidiaries under terms designed to increase his control over the entire tech giant empire.

Lee who has been under pre-sentencing detention since February has denied the charges. Lee is expected to appeal the verdict.

--IANS
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