Aug 25, 2017
- Court acknowledges Lee's charges of bribery, embezzlement, concealment of criminal proceeds, illegal overseas asset transfer.
- Court says Lee embezzled 6.4 billion won.
- Court: Samsung's Lee involved in donations for equestrian training of daughter of Park's confidante.
- Court says Samsung heir Lee provides bribes in anticipation of favors for power transfer.
- Court says merger of Samsung units seen as related to power transfer to heir Lee.
- Court says Samsung's Lee is not believed to have sought favors during meetings with ex-President Park.
- Court acknowledges Lee's charges of perjury.
A lower court in Seoul sentenced Samsung Electronics Vice Chairman Lee Jae-yong
to five years in prison Friday, finding him guilty of bribery, embezzlement and other charges in a massive corruption scandal that led to the ouster of former President Park Geun-hye.
The Seoul Central District Court handed down the verdict, saying Lee is believed to have been involved in Samsung's provision of 7.2 billion won ($6.38 million) in bribes for the equestrian training of the daughter of Park's longtime friend and confidante Choi Soon-sil. Lee was also convicted of embezzlement, hiding assets overseas and perjury.
Lee, who has been under pre-sentencing detention since February, has denied the charges.
Lee is expected to appeal the decision.