Jae-yong surrounded by police officials
The heir to the Samsung business empire, including the world’s biggest smartphone maker, was on Friday sentenced to a five year jail term in his corruption trial over the scandal that brought down South Korean president Park Geun-Hye.
A court in South Korea sentenced Samsung’s billionaire heir-apparent Lee Jae-yong to five years in prison for corruption.
Prosecutors had demanded a 12-year sentence for Lee Jae-Yong, which could have left the giant firm rudderless for years and hamper its ability to make key investment decisions, but the final verdict looks like a breather.
His charges included bribery, embezzlement and perjury stemming from the scandal, centered on payments and promises by Samsung totaling 43.3 billion won (around $40 million) to Park’s secret confidante Choi Soon-Sil.
Prosecutors say the money was in return for policy favors including government support for Lee’s hereditary succession at the group, after his father was left bedridden by a heart attack in 2014.
The case has gripped the public amid growing anger against South Korea’s biggest companies, known as chaebols. According to the BBC, Mr Lee however, denied all charges.
