Samsung Vice President faces a nine-year sentence for taking bribes

 

SOUTH KOREA, DEC 31 - Samsung Electronics Vice President and Chairman Jay Y. Lee has been allegedly sentenced to nine years in prison due to his involvement in a bribery case. The case, reportedly, contributed to the downfall of former president Park Guen-Hye.

Previously, Lee, the heir of South Korea’s most powerful families, was convicted for the same case in 2017 and was sent to jail for five years. However, that sentence was reduced and suspended on appeal and he only served a year in jail before being freed in 2018.

Hence, a subsequent Supreme Court ruling sent the matter back to the Seoul High Court. Now, the court has to decide upon a new sentence, which is most likely going to be 9 years in jail. However, the final hearing regarding the matter is on 18th January.

This is not the only legal challenge Lee is dealing with. He is also on a trial for alleged accounting fraud and stock price manipulation but for now, the bribery case is the biggest immediate threat to his leadership of Samsung Electronics.

The 52-year-old has been the de facto head of Samsung Electronics since his father Lee Kun-hee was hospitalized in 2014, he passed away in October this year. If the court decides to send Lee to jail again, he might be forced off the board and sidelined from major decisions.

Samsung has not commented on the matter yet.

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