इंडियन आवाज़     25 May 2024 04:26:00      انڈین آواز

Samsung Vice Chairman arrested, jailed for 5 Years

(Last Updated On: )




Samsung, the Korean conglomerate’s acting chief Lee Jae has been sentenced to five years in prison. A South Korean court has found Lee Jae-yong guilty of bribery and embezzlement.

samsung-logoThe Seoul Central District Court convicted Samsung’s de facto heir of bribing former President Park Geun-hye and her close friend Choi Soon-sil in return for the government’s help in tightening his control over Samsung Group, saying he was in position to benefit most from the bribery scheme.

“The essence of the case is collusive ties between political power and capital power,” presiding Judge Kim Jin-dong said. “As Samsung executives, they had a great deal of negative impact on society and the economy.”

The executive has been sentenced to five years in prison, much shorter than the 12 years he was facing. According to The New York Times, though, that’s long enough to be considered a heavy penalty for a country that’s used to doling out light sentences to major business figures.

Also known as Jay Y. Lee, the executive is technically the “chaebol’s” Vice Chairman, but he’s been running the company for a few years now after his father suffered a heart attack. Lee was arrested earlier this year after Samsung’s involvement in President Park Geun-hye’s scandals came to light.

Lee, who has been detained since February, was found guilty of all five charges — bribery, embezzlement, concealment of criminal proceeds, illegal transfer of assets overseas and perjury.

The court said Lee and Samsung executives offered large bribes to the president, who held “immense power and the ultimate authority,” and embezzled company funds, hid assets overseas and concealed profits from criminal acts in the process, all expecting a favor in the form of Samsung Group’s smooth leadership transition.

Lee, 49, was groomed to lead the conglomerate that was founded by his grandfather and became such a dominating force in South Korea that it’s mockingly called “Republic of Samsung” by the public.

He took a higher profile role at the world’s largest maker of smartphones, television sets and microchips that power consumer electronics after his father suffered a heart attack in 2014 and was poised to cement control. Instead, at the end of last year Lee was implicated in a massive political scandal that culminated in President Park Geun-hye’s ouster.

The court said he was guilty of offering bribes to the former president and her close friend Choi Soon-sil to facilitate a smooth handover of power at Samsung, which is a publicly traded company. Park and Choi are also on trial. A Samsung lawyer said the guilty verdict would be appealed.

Please email us if you have any comment.


ایرانی صدر ابراہیم رئیسی اور وزیر خارجہ ہیلی کاپٹر حادثے میں جاں بحق

ایرانی میڈیا نے ہیلی کاپٹر حادثے میں صدر ابراہیم رئیسی کے جا ...

ایران: صدر رئیسی کے ہیلی کاپٹر کی تلاش کے لیے سرچ آپریشن جاری ہے۔

ایران: صدر رئیسی کے ہیلی کاپٹر کی تلاش کے لیے سرچ آپریشن جاری ...

ناہمواریوں کے باوجود عالمی معیشت میں بہتری کی امید

ترقی پذیر ممالک میں محنت کشوں کے معاوضوں میں اضافہ ہو رہا ہے ...


Singapore: PM urges married Singaporean couples to have babies during year of Dragon

AMN / WEB DESK Prime Minister of Singapore Lee Hsien Loong has urged married Singaporean couples to have ba ...

Himachal Pradesh receives large number of tourists for Christmas and New Year celebrations

AMN / SHIMLA All the tourist places of Himachal Pradesh are witnessing large number of tourists for the Ch ...

Indonesia offers free entry visa to Indian travelers

AMN / WEB DESK In a bid to give further boost to its tourism industry and bring a multiplier effect on the ...


Tamil Nadu CM Stalin attacks BJP over ‘saffron’ Doordarshan logo

AMN DMK Chief and Tamil Nadu chief minister MK Stalin on Sunday slammed the Bharatiya Janata Party (BJP) f ...

Broadcasting Authority Penalises TV Channels for Hate-Mongering, Orders Removal Of Offensive Programs

Broadcasting Authority (NBDSA) Orders Times Now Navbharat, News 18 India, Aaj Tak to Take Down 3 TV Shows ...


Uttarakhand: Portals of Badrinath Shrine open for Pilgrims

The portals of the famous Badrinath shrine, located in Chamoli district of Uttarakhand, opened this morning at ...

Mata Vaishno Devi Bhawan Decorated With Imported Flowers Ahead Of Navratri Festival

AMN In Jammu, ahead of the festivl of Navratri, Katra and Mata Vaishno Devi Bhawan is decorated with import ...

@Powered By: Logicsart