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Samsung VC jay lee jailed for five years by South Korean Court

A South Korean court jailed Samsung Group leader and Samsung Electronics Vice Chairman Jay Y. Lee for five years on Friday. The court ruled had Lee paid bribes in anticipation of favours from then president Park Geun-hye.
The Seoul Central District Court was delivering its verdict on charges against Lee, 49, ranging from bribery to perjury in a scandal that led to the ouster in March of the then president, Park Geun-hye. The six-month trial also found Lee, vice chairman of Samsung Electronics - the world's largest smartphone maker - guilty of hiding assets abroad 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.
Samsung Electronics did not have any immediate comment. During the trial, Samsung acknowledged it offered to donate about KRW 43 billion ($38 million) to entities backed by Park's close friend, Choi Soon-sil, including sponsoring the equestrian career of Choi's daughter.

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