Business

Samsung heir does not pass Go, does not collect $200

Court sentences Lee Jae-yong to five years in prison for bribery

By Andrew Silver

11 SHARE

Samsung vice-chairman Lee Jae-yong has been sentenced to five years in the clink for corruption after a six-month trial.

A Seoul court found him guilty of paying bribes in expectation of favours from disgraced former South Korean president Park Geun-hye, hiding assets abroad, embezzlement and perjury, Reuters reports.

Lee – heir apparent and de facto chief of the world's largest smartphone manufacturer – was arrested in February on suspicion of making donations to foundations controlled by a friend of Park, Choi Soon-sil, in order to get government support for the Samsung C&T and Cheil Industries 2015 merger.

Following his arrest, Lee denied the charges.

The New York Times reports that other former top executives who had advised Lee received suspended terms or prison sentences.

Samsung has had a rocky year with the infamous Note 7 recalls but, according to research from Gartner, its smartphone sales have been doing better as of late.

A Samsung spokesperson declined to comment, but Lee's lawyers told Reuters and the NY Times that he would be appealing the court's decision. ®

Sign up to our NewsletterGet IT in your inbox daily

11 Comments

More from The Register

Sorry, Samsung. Seems nobody is immune to peak smartphone

Chaebol warns operating profit to fall 29%

One UI to end gropes: Samsung facelift crowns your thumb the king

Everything within reach on oversized phones

Samsung unveils next-generation 8nm Exynos silicon

It's pop-AI but tailored, fans

Grandmaster flash Samsung dominated SSD market in 3Q2018

Plus: PC, notebook hard drive ships set to be eclipsed by flash

Nice phone account you have there – shame if something were to happen to it: Samsung fixes ID-theft flaws

If Artem Moskowsky owes you money, it's a good time to ask

Samsung's graphene batteries promise to charge five times faster – without exploding

Chaebol says development is done and dusted

Samsung 'reveals' what looks like a tablet that folds into a phone, but otherwise we're quite literally left in the dark

*squints* Well, it's flexible. It's a, er, thing. It's...

Koh YEAH! Apple, Samsung finally settle iPhone patent crusade

Judge Lucy is rid of bickering billionaires... for perhaps a week or so, we guess

Samsung's sleek 'n' sporty X5 SSD pledges blazing transfer speeds

Portable drive harnesses NVMe and Thunderbolt 3

Samsung ready to fling Exynos at anyone who wants a phone chip

Including ZTE?