“The prosecution on Monday asked a Seoul court to sentence Samsung Group’s heir apparent Lee Jae-yong to 12 years in jail for alleged bribery in connection with the corruption scandal that led to former President Park Geun-hye’s ouster,” Ock Hyun-ju reports for The Korea Herald. “The court will rule on Aug. 25.”
“At the final hearing held at the Seoul Central District Court, Special Counsel Park Youg-soo said that the Samsung Electronics vice chairman was a direct beneficiary and final decision maker in the bribery scheme,” Ock reports. “The 49-year-old billionaire heir was indicted on Feb. 28 on charges of bribery, embezzlement and perjury for allegedly seeking political favors from the Park administration in return for paying or promising to pay 43.4 billion won in donations to foundations controlled by Park’s close confidante Choi Soon-sil and in sports sponsorship to Choi’s horse-riding daughter.”
“Special Counsel claimed that the money was a bribe to win the government’s backing for the 2015 merger of Samsung Group’s two affiliates — Cheil Industries and Samsung C&T — a crucial step for a smooth leadership transition from its ailing chairman Lee Kun-hee to his only son, Lee Jae-yong. Former President Park, in return for the money, is suspected of having pressured the state-funded National Pension Service, the largest stakeholder in Samsung C&T, to vote in favor of the controversial merger,” Ock reports. “Lee choked up with emotion and had to take a sip of water several times to calm himself during his five-minute speech as he vehemently denied all charges.”
Read more in the full article here.
MacDailyNews Take: We’ll see if the Republic of Samsung has the testicular fortitude to throw the book at him or if he manages to get slither off the hook.
Samsung is intertwined into South Korea like a stage IV cancer.
SEE ALSO:
Samsung’s acting head Lee Jae-yong indicted on bribery charges as scandal grows – February 28, 2017
South Korean court approves arrest of Samsung heir Lee Jae-yong – February 16, 2017
South Korean prosecution again seeks arrest of Samsung chief – February 14, 2017
Samsung heir Lee Jae-yong escapes arrest in massive bribery scandal – January 20, 2017
South Korea attempting to handicap Apple by demanding the removal of preinstalled apps like the App Store – July 7, 2016
Korea Fair Trade Commission clears Samsung’s use of standard-essential patents against Apple – February 27, 2014
South Korea, the Republic of Samsung – December 10, 2012
Welcome to South Korea, the ‘Republic of Forgery’ – September 11, 2012
Samsung’s ‘Instinct’ is obviously to make Apple iPhone knockoffs – April 1, 2008
[Thanks to MacDailyNews Reader “Michael Miller” for the heads up.]
Good for S. Korea if so properly tried. You won’t see Samsung be defended by fans, as Apple would under similar circumstances.
That hypothetical is a false/specious argument. If there was clear corruption going on, why would fans defend those actions, just because they have been fans?
Point is: Apple’s leadership aren’t sleazy, corrupt, self-serving, nepotistic, gangsters.
Point is: those defending Samsung’s products and privacy and security features and principles as “just the same” as Apple products and features and principles, have to take the leadership of the company into account, and the example which that sets for the business as a whole.
No they are censors that are defended by so called liberally minded fans.
Oh, and if you follow these pages the EU is now the enemy for bitch salapping Ireland and Apple by extension.
Are you to tell me that a lot of Apples supporters aren’t shareholders with vested interests and compromised objectivity?
Well, it could not happen to a nicer guy or family…
/s
Thank you, Judge Judy Koh, once again, for your excellent jurisprudence work in stripping the lion’s share of Apple’s complaints against Samsung with respect to Intellectual Property Theft and patent infringement in that landmark case. /s
To paraphrase DJT “Lock him up, lock him up, lock him up!!!” and throw the key away.
Karma is a bitch — this one comes with flourishes — that two of the protagonists (Prosecutor and ex-President of the country) have the name Park: just as Apple Park comes online.
Such sweet schadenfreude.
Addendum: “…and former Samsung Electronics President Park Sang-jin”.
Well, they do say omens (good and bad) come in threes.
My money is on him somehow managing to escape a 12 year jail term. In countries where corruption can occur on such a massive scale, there always seems to be a way of buying your way out of trouble.
It’s not just banana republics either. For instance in 2014, Bernie Ecclestone ( who at the time controlled the Formula 1 racing business ) was put in trial in Germany accused of making a $30 million bribe. He could have faced a jail term of ten years if found guilty, but he left the court agree man with no stain on his character after offering to pay $100 million to the court. In effect, he bribed his way out of a bribery charge. The actions of the court were very widely criticised by a former justice minister, politicians and newspapers across Germany and elsewhere. I’ve even heard of a major nation where it’s president has contemplated pardoning himself and his family if they were to face serious charges.
Encore! Encore!