Samsung vice chairman Jay Y. Lee faces nine-year sentence in bribery case – TechCrunch

JY Lee, vice chairman of Samsung Electronics, faces a nine-year prison sentence in a bribery case that contributed to the fall of former President Park Guen-hye. Prosecutors argued that the length of the sentence was set as a result of Samsung’s largest chaebol, or family-owned group, in South Korea.

“Samsung is a group with such enormous power that it is said that Korean companies are divided into Samsung and non-Samsung,” he said during a final hearing on Wednesday. Reports Korea Herald. The final decision is to be made on 18 January.

The bribery case differs from another trial Lee has been involved in over alleged fraud and stock-price manipulation. The hearing in that case began in October.

The bribery case dates back to 2017, when Lee was convicted of bribing Park and his close partner Choi Soon and was sentenced to five years in prison. Prosecutors say the bribe was taken from her father Lee Kun-hee to secure the government for Lee’s attempt to control Samsung, then its president. Illegal payment was a major part of the corruption scam Arrest and 25-year prison sentence for Park’s impeachment.

Lee was freed in 2018 after appeals were down and suspended on appeal, and he returned to work as Samsung’s de facto chief, a position he took after his father Had a heart attack in 2014.

In August 2019, however, the Supreme Court overturned the appeals court, ruling that it was too lenient, and Ordered that the case be withdrawn to the Seoul High Court.

Bade Lee, who was reportedly South Korea’s wealthiest citizen, died in October. He was under an estimated $ 20.7 billion and the country’s tax system, and his successors could be liable for property taxes of about $ 10 billion, Reported to Fortune.

TechCrunch has contacted Samsung for comment.