Judge gives Samsung heir five years in jail for bribery scandal

Samsung logo (Source: Samsung)
Samsung logo (Source: Samsung)
A judge has sentenced Lee Jae-jong, the Samsung heir, to five years jail time for his part in the bribery scandal with the administration of the former President of South Korea. He was also found guilty of giving false testimony in court and hiding overseas assets.

One of Samsung Group's executives and heir to the company, Lee Jae-jong, has been found guilty for his part in an earlier bribery scandal between Samsung Group and the impeached former President Park Geun-Hye. He was also convicted of giving false testimony in court and hiding overseas assets (likely for tax evasion).

The Samsung Group — whose products include smartphones, TVs, ARM CPUs, flash storage, screens, construction, medical and more — is South Korea's most economically important company, accounting for 20 percent of the local economy. The executive team was wanting a merger with another South Korean company, Cheil Industries Inc, but it was discovered that Lee and four other executives had paid US$6.4 million in bribes to the former President's administration to guarantee political support for the merger.

The judge who handed down the sentence made the following statement: "The essence of this case is the unethical bond between politics and money. The people expect that the power of a president, the top authority under the Constitution, will be used to serve all people and that big businesses act with social responsibility, through legal economic activities. Through this case, the people have come to question the fairness and honesty of the president and have come to distrust the ethical values of Samsung, the largest conglomerate."


static version load dynamic
Loading Comments
Comment on this article
Please share our article, every link counts!
> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2017 08 > Judge gives Samsung heir five years in jail for bribery scandal
Craig Ward, 2017-08-26 (Update: 2017-08-26)
Craig Ward
Craig Ward - News Editor
I grew up in a family surrounded by technology, starting with my father loading up games for me on a Commodore 64, and later on a 486. In the late 90's and early 00's I started learning how to tinker with Windows, while also playing around with Linux distributions, both of which gave me an interest for learning how to make software do what you want it to do, and modifying settings that aren't normally user accessible. After this I started building my own computers, and tearing laptops apart, which gave me an insight into hardware and how it works in a complete system. Now keeping up with the latest in hardware and software news is a passion of mine.