Seoul, Aug 25 (IANS) A South Korean court on Friday sentenced Samsung Electronics Vice Chairman Lee Jae-yong to five years in prison after finding him guilty of bribery and embezzlement in a massive corruption scandal that led to the ouster of former President Park Geun-hye.
The Seoul Central District Court handed down the verdict, saying Lee is believed to have been involved in the provision of 7.2 billion won ($6 million) in bribes for the equestrian training of the daughter of Park's longtime friend and confidante Choi Soon-sil, reports Yonhap News Agency.
Lee was also convicted of embezzlement, hiding assets overseas and perjury.
Prosecutors had demanded a 12-year jail term for Lee on charges that he offered or pledged 43.3 billion won ($38 million) to win the government's approval for a merger between two Samsung subsidiaries under terms designed to increase his control over the entire tech giant empire.
Lee, who has been under pre-sentencing detention since February, has denied the charges. Lee is expected to appeal the verdict.
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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