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Samsung-ceo gets five years in prison in corruptiezaak

Samsung-ceo gets five years in prison in corruptiezaak

Photo: AFP

The vice-chairman of Samsung Electronics, Jay Y. Lee. has Friday to five years in prison received after he was found guilty of bribery of the former South Korean president Park Geun-hye.

The 49-year-old ” crown prince of Samsung, in South Korea, Lee Jae-yong is called, is already since February, in custody. The scandal led to the resignation of president Park.

Lee denies anything wrong to have done so. His attorney called the punishment “unacceptable” and says the appeal.

Lee Kun-hee, the father of Jae-yong, the chairman of Samsung. But he is since 2014 seriously ill in the hospital, leaving his son in the daily practice, was in charge. Lee Kun-hee was itself on two occasions sentenced to conditional prison sentences for bribery, but two different presidents gave him grace.

Bribes

While the lawsuit was Jay Y. Lee accused that he converted more than 30 million euro bribe paid to get approval for a merger between two components of Samsung. That was quite a profitable.

The payments went to an advisor of president Park, who is also a sporthorse to the value of 750,000 euros received. In addition, supported Samsung the paardensportteam with a large financial contribution.

Lee says nothing about the bribery to have known and in addition well informed of the South Korean politics, which he actually has little knowledge about the advisers of the president.

Chaebols

Samsung is the largest and most influential company of South Korea, a country that is dominated by a handful of large family businesses (chaebols). The conglomerates have ensured that South Korea in the last few decades economically very influential, but according to the critics, are the ties between the corporations and the government too closely. That would be small companies at a disadvantage.

The new president of South Korea, Moon Jae-in, wants more stringent action against the chaebols. Shareholders should have more influence and drivers who are convicted of fraud or other crimes, can no longer count on a presidential pardon.

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