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Samsung heir walks free after appeals court quashes bribery charges

06 February, 2018, 15:18 | Author: Janis Wilson
  • South Korean appeals court sets Samsung scion Lee free

The court found that Lee expected to receive favorable treatment from regulators as he attempted to assert control over Samsung and last year's judgment was hailed as a landmark in the Korean judiciary's treatment of high-profile corporate criminals.

Lee is now on probation for four years. It helped cement family rule of [the] company: "Lee is the son of Samsung Group Chairman Lee Kun-hee, and grandson of the founder, Lee Byung-chul". He said he felt sorry for not showing his best side and used the time locked up to reflect on himself.

The appeals court said Lee was unable to reject the then-president's request to financially support her confidante and was coerced into making the payments.

"Powerful people always win, whether it's business or politics", said Jung Myeong-suk, a 65 year-old security guard said as he was heading to work. "The essence of this case is that the defendant passively answered to political power". Last week, it reported its biggest ever annual profit. Samsung has gone out ...

Samsung group heir Jay Y Lee has sentence suspended following corruption scandal.

What impact will the Samsung chief's arrest have on the company?

His first stop after leaving prison was a hospital where his father has been treated since he suffered a heart attack in 2014.

More news: Russian pilot killed after plane shot down by Syrian rebels

Lee Jae-yong, Samsung Electronics Vice Chairman, has been set free with a suspended prison sentence almost a year after he was imprisoned on corruption charges. The latter was impeached for her role in the scandal. Her confidante Choi Soon-sil, the recipient of the horse, has also denied charges. He was convicted on August 25 of receiving favors in exchange for sizable financial contributions to Park and her confidante, Choi Soon-sil.

Those who had hoped the relatively harsh sentence spelled the end of chaebol leaders committing crimes knowing the worst they could expect is a relative slap on the wrist, though, will be disappointed to hear that Lee is now a free man.

The prosecution has said it will appeal the ruling.

"The news was encouraging for us as we are doing last-minute works to launch the S9 series", said an employee working for the IT & Mobile Communications division at Samsung.

Samsung is South Korea's biggest conglomerate.

Convicted executives of the family-run conglomerates that dominate business in South Korea often get their sentences reduced or suspended - and eventually a pardon from the president. Both sentences were suspended.

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