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|Samsung Boss Goes To Jail by Blogger2021: 11:48am On Jan 20|
Billionaire Samsung heir Lee Jae-yong was sent back to prison on Monday after a South Korean court sentenced him to two and a half years over his involvement in a 2016 corruption scandal that spurred massive street protests and ousted South Korea’s then-president.
In a much-anticipated retrial, the Seoul High Court found Lee guilty of bribing then-President Park Geun-hye and her close confidante to win government support for a 2015 merger between two Samsung affiliates that helped strengthen his control of the country’s largest business group.
Lee’s lawyers had portrayed him as a victim of presidential power abuse and described the 2015 deal as part of “normal business activity”.
Wearing a mask and black suit and tie, Lee was taken into custody following the ruling. He didn’t answer questions by reporters upon his arrival at the court.
Injae Lee, an attorney who leads Lee Jae-yong’s defense team, expressed regret over the court’s decision, saying that the “essence of the case is that a former president abused power to infringe upon the freedom and property rights of a private company”.
He didn’t say whether there would be an appeal. Samsung did not issue a statement over the ruling.
Lee Jae-yong helms the Samsung group in his capacity as vice-chairman of Samsung Electronics, one of the world’s largest makers of computer chips and smartphones.
In September last year, prosecutors separately indicted Lee on charges of stock price manipulation, breach of trust, and auditing violations related to the 2015 merger.
Strong financial year for Samsung
It isn’t immediately clear what his prison term will mean for Samsung. The company didn’t show many signs of trouble during Lee’s previous stint in jail in 2017 and 2018, and prison terms have never really stopped South Korean corporate leaders from relaying their management decisions from behind bars.
Samsung is ending a robust business year, with its dual strength in parts and finished products enabling it to benefit from the coronavirus pandemic and the prolonged trade war between United States and China.
Samsung’s semiconductor business rebounded sharply after a sluggish 2019, driven by high demand for PCs and servers as virus outbreaks forced millions of people to stay and work at home.
The Trump administration’s sanctions against China’s Huawei Technologies have meanwhile hindered one of Samsung’s biggest rivals in smartphones, smartphone chips and telecommunications equipment.
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|Re: Samsung Boss Goes To Jail by gambia(m): 12:18pm On Jan 20|
That's where law and order works.
|Re: Samsung Boss Goes To Jail by juniorstar(m): 1:23pm On Jan 20|
can dangote be sent to jail in Nigeria if he is seen to manipulate his business dealings. I doubt it. Naija get as e be.
|Re: Samsung Boss Goes To Jail by kalu61(m): 1:56pm On Jan 20|
Jails are in sizes and social status in different countries.
Many Nigerians will jump at the offer for free on his behave.
Oh sweat jail!
|Re: Samsung Boss Goes To Jail by DoubleEngine007: 2:06pm On Jan 20|
juniorstar:Nigga will buy the court,the judge and the lawyers ,all together.
The law only works on the poor in this part of the world..
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