Samsung chief gets 5-year prison term for corruption

BY: CNN
Lee Jae-yong
Lee Jae-yong

A South Korean court has found Lee Jae-yong, the de facto chief of the sprawling Samsung business empire, guilty of bribery and other corruption charges.

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Lee, the billionaire son of Samsung's ailing chairman, was sentenced to five years in prison on Friday, well short of the 12-year prison sentence prosecutors had sought.

The criminal conviction is a blow for Samsung, the world's largest smartphone maker and South Korea's biggest family conglomerate.

Samsung Electronics' (SSNLF) share price fell 1.5% in Seoul after the verdict was announced on Friday.


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Wearing a navy suit and holding a manila envelope, Lee remained seated and silent as the judge read out the verdict.

The so-called "trial of the century" has gripped South Korea for months.

Credit: CNN.com 

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