Lee Jae-yong, the presumed heir to Samsung empire and vice chairman of Samsung Electronics has been found guilty of bribery, perjury, and embezzlement in South Korea. As such, the verdict brings a sentence of five years in prison. Lee has been found guilty by a three-judge panel of Seoul Central District Court.
Lee, a 49-year-old, was arrested in February. He is the infamous son of Lee Kun-hee, who is the incapacitated chairman of Samsung Group.
This all started when Lee and four other executives at Samsung were accused of offering bribery to former South Korean president Park Geun-hye and another associate of hers, Choi Soon-sil, who is close friends with Park. When it came down to it, prosecutors said Lee and other executives involved gave about 43.3 billion won (approx. $38 million) in bribes to organizations that were controlled by Choi in return for favors.
Lawyers for Lee say that they plan to appeal the decision.
Lee may have been found guilty, but he can still be the successor to his father. It’s worth mentioning that elder Lee was found and convicted of tax evasion and bribery, but was later pardoned, twice.
