Samsung chief Lee jailed for 2.5yrs over graft scandal
Published: 12:37 PM, 18 January 2021
Lee Jae-yong, the vice-chairman of Samsung Electronics, was jailed for two and a half years on Monday over a sprawling corruption scandal; Photo: Collected
Lee Jae-yong, the vice-chairman of Samsung Electronics, the world’s biggest smartphone and memory chip maker, was found guilty of bribery and embezzlement and was immediately taken into custody.
The de facto chief of South Korea’s Samsung business empire was jailed for two and a half years on Monday over a sprawling corruption scandal, news agency Yonhap reported.
The Seoul High Court first jailed Lee in 2017 after convicting him for his role in a corruption scandal that toppled former president Park Guen-Hye.
The Samsung Group’s de facto leader served a year in prison but was released in February 2018 after his original five-year term was halved and suspended. However, the Supreme Court overturned that verdict and ordered a retrial in 2019.
Lee, 52, has been involved in a legal fight that started four years ago and stemmed from a controversial merger in 2015.
He was accused of offering horses and other payments to a friend of the former president to win support for his formal succession at the corporation.