A court in South Korea has sentenced Samsung’s billionaire heir-apparent, Lee Jae-yong to five years in prison for corruption.
Lee was accused of bribery in a scandal that also witnessed the impeachment of South Korea’s former president. The case has gripped the public amid growing anger against South Korea’s biggest companies, known as chaebols.
The court ruled that Mr. Lee and four other Samsung executives paid $6.4 million in bribes and other inducements to ensure that the country’s disgraced former president, Park Geun-hye, supported a complicated corporate deal that strengthened Mr. Lee’s grip on Samsung Electronics, the conglomerate’s crown jewel
Mr. Lee was also found guilty of hiding assets overseas and of perjury for falsely testifying at a parliamentary hearing on the scandal.