The Billionaire head of South Korea’s Samsung Group, Jay Y. Lee, was jailed for five years for bribery, after a six-month trial over a scandal that brought down the President.
Lee had paid bribes in anticipation of favours from then President Park Geun-Hye, according to a landmark ruling by a Seoul Court, which also found him guilty of hiding assets abroad, embezzlement and perjury.
Lee, the 49-year-old heir to one of the World’s Biggest corporate empires, has been held since February.
He faced charges that he bribed park to help secure control of a conglomerate that owns Samsung electronics, the World’s leading Smartphone and chip maker, and has interests ranging from drugs and home appliances to insurance and hotels. Lee denied wrongdoing.