Add To Favorites
South Korean court sentences Samsung heir to 5 years prison
Headline Legal News | 2017/08/24 08:58
A South Korean court sentenced the billionaire chief of Samsung to five years in prison for crimes that helped topple the country’s president, a stunning downfall that could freeze up decision making at a global electronics powerhouse long run like a monarchy.

The Seoul Central District Court said Friday that Lee Jae-yong, 49, was guilty of offering bribes to Park Geun-hye when she was South Korea’s president, and to Park’s close friend, to get government support for efforts to cement his control over the Samsung empire. The revelations that led to Lee’s arrest in February fed public outrage which contributed to Park’s removal.

A panel of three judges also found Lee guilty of embezzling Samsung funds, hiding assets overseas, concealing profit from criminal acts and perjury. Prosecutors had sought a 12-year prison term.

The court said Lee and Samsung executives who advised him caused “a big negative effect” to South Korean society and its economy.

“The essence of the case is unethical collusion between political power and capital,” the court said in a statement. It led the public to fundamentally question the public nature of the president’s work and to have “mistrust in the morality of the Samsung group,” it said.

The families who control South Korea’s big conglomerates, known as chaebol, were lionized a generation ago for helping to turn South Korea into a manufacturing powerhouse put public tolerance for double standards that put them above the law has been rapidly diminishing.

Analysts said the verdict will not immediately have an impact on Samsung’s business operations, which are overseen by three chief executives. The company has successfully weathered past crises that include two recalls of Galaxy Note 7 smartphones prone to catch fire and Lee’s arrest. It is set to report its highest-ever earnings this year.

But long-term business decisions, such as finding future growth areas and identifying companies for acquisitions, may have to be put on hold.


[PREV] [1] ..[37][38][39][40][41][42][43][44][45].. [1528] [NEXT]








All
Legal News
Law Firm News
Attorney News
Headline Legal News
Lawyer Blog Post
Videos for Legal Insight
Legal Business
Court News
Court Watch
Legal Interview
Topics in Legal News
Press Release
Opinions
Legal Marketing
Politics & Legal
Law School News
The Latest: Senate panel approves ta..
Belgian court pushes back extraditio..
Steve Mostyn, Houston attorney and m..
German Court: Kuwait Airways Can Ref..
Free Speech Is Starting to Dominate ..
Court gives go-ahead for minimum alc..
Kenya court set to hear petitions ch..
Feds head to court to seek dismissal..
Samsung worker killed by brain tumor..
Trump choosing white men as judges, ..
High court to hear appeal in Newtown..
Court, for now, blocks immigrant tee..
Court weighing whether graffiti mecc..
Court agrees to take on US-Microsoft..
Court gives government a win in youn..
Supreme Court to consider American E..
Businesses ask Supreme Court to take..
Australia's High Court to consider f..
Supreme Court refuses to hear Kentuc..
   Lawyer & Law Firm Links
Canton Criminal Lawyer
Canton DUI lawyer
www.cantoncriminalattorney.com
Bankruptcy Attorney Eugene
Eugene Bankruptcy Attorney
www.willamettevalleybankruptcy.com
Personal Injury Website Designs
www.webpromo.com
Oregon Family Law Attorney
Divorce Lawyer Eugene. Family Law
www.mjmlawoffice.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
  Facebook/lawfirmwebdesign
 
 
Disclaimer: The content contained on the web site has been prepared by legalmarketinginsight.com as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Blog postings and hosted comments are available for general educational purposes only and should not be used to assess a specific legal situation. The Legal Marketing Firm is a specialized internet marketing agency that has been providing the legal community with internet legal marketing services. Small Law Firm Website Design by Legal Web Design That Works