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Samsung heir Lee Jae-yong freed from prison following suspension of corruption sentence

By midian182
Feb 5, 2018
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  1. After being sentenced to five years behind bars for corruption in August 2017, Samsung Electronics vice chairman and heir-apparent Lee Jae-yong has just walked free from prison.

    Lee, who has been detained since February last year, was found guilty of bribery, embezzlement, hiding assets overseas, concealing profits from criminal acts, and perjury in a corruption scandal that led to the ousting of former South Korean president Park Geun-Hye.

    Prosecutors say Lee gave $38.4 million in bribes to non-profit foundations controlled by Park’s close friend, Choi Soon-sil, in return for policy favors

    Having appealed his sentence, Seoul High Court cut Lee’s original term by half to two and a half years, though he was allowed to leave prison on a four-year probation, reports Bloomberg. Lee reportedly looked stunned when the decision was announced.

    “Again, I feel sorry to everyone for not showing my best side. And it has been a really precious time for a year reflecting on myself,” he told reporters.

    Lee’s time away hasn’t affected Samsung’s bottom line. The company posted an operating profit of $14 billion in Q4 2017, making it the most profitable quarter ever. It also knocked Intel off the top spot as the world’s biggest chipmaker for the first time in 25 years.

    Back in 2008, Lee’s father, Lee Kun-hee, was found guilty on charges of financial wrongdoing and tax evasion. He also received a suspended jail sentence.

    It isn’t clear when Lee will return to Samsung in a formal role.

    Permalink to story.

     
  2. Squid Surprise

    Squid Surprise TS Evangelist Posts: 2,442   +1,438

    Nothing fishy happening here... avert eyes everyone... everything is clear and above board in Korea....
     
    alabama man likes this.
  3. alabama man

    alabama man TS Guru Posts: 563   +355

    So bribing is practically legal. The company didn't get punished and the scapegoat got free too. Shame the same people committing these crimes have the most influence on laws that control them.

    If there was any justice samsung would be cut in to parts and given to it's competition to compensate for the unfair advantage. The "main criminal" him self would be jailed for at least 10 years and lifetime ban from all economic positions. Hes income should be scrutinized for payouts for being the scapegoat and all income he got from samsung or anyone related to the company should be confiscated.
     
  4. Squid Surprise

    Squid Surprise TS Evangelist Posts: 2,442   +1,438

    Man... if only that actually happened in the real world... When you are really rich and have powerful connections, these things don't happen to you. The fact that he saw ANY jail time was actually quite impressive. He's going to be head of Samsung one day - and the powers that be will be coming to him for favours... would take quite the set of cahones to put him in prison...
     
    Edito likes this.

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