SEOUL (Reuters) - The billionaire head of South Korea’s Samsung Group, Jay Y. Lee, was jailed for five years for bribery on Friday after a six-month trial over a scandal that brought down the president.
Lee had paid bribes in anticipation of favors from then president Park Geun-hye, according to a landmark ruling by a Seoul court, which also found him guilty of hiding assets abroad, embezzlement and perjury.
Lee, the 49-year-old heir to one of the world’s biggest corporate empires, has been held since February on charges that he bribed Park to help secure control of a conglomerate that owns Samsung Electronics, the world’s leading smartphone and chip maker, and has interests ranging from drugs and home appliances to insurance and hotels.
Lee denied wrongdoing.
One of his lawyers, Song Wu-cheol, said Lee would appeal the lower court ruling.
“The entire verdict is unacceptable,” Song said, adding that he was confident his client’s innocence would be affirmed by a higher court.
Under South Korean law, sentences of more than three years can not be suspended. The five year-sentence is one of the longest prison terms given to a South Korean business leader.
The funeral of arguably the Queen of the Sinhala cinema Malini Fonseka, will be held with state honours on Monday, May 26, 2025, at the Independence Square.
First Bishop of the Batticaloa Diocese, Retired Bishop Joseph Ponnaiya, passed away today at the age of 74, following a brief illness.
The NPP government has been at the wheel for almost 6 months now. The time to keep looking at the rear view mirror and living in the past is about over.
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