head Samsung, Jay Y. Lee, was sentenced to prison following a trial in which he was accused of high-level bribery, tax evasion and more. We are talking about a six-month trial in which the Samsung boss maintained his innocence, but the problems brought by the prosecutors before the courts convinced the judges that the reality is completely different.
Jay Y. Lee became the vice president of Samsung's board of directors after his father temporarily retired from the position of president due to health problems. Jay Y. Lee practically ran Samsung through the board of directors, but the arrest practically left him without at least part of the power he had within the Korean giant, which competes with Apple.
The head of Samsung was sentenced to prison
Jay Y. Lee was convicted for bribing the former president of South Korea to facilitate, among other things, the merger between two companies owned by Samsung. Jay Y. Lee was also found guilty for the crime of perjury, other managers of the Samsung company being convicted together with him for similar crimes, so we are talking about a big problem for Samsung.
Jay Y. Lee will appeal against this decision and it is not known how many chances he has to win, but it is clear that, unlike his father, he will not have his sentence pardoned by the president. Jay Y. Lee is not the first head of Samsung to be convicted of committing crimes and most likely will not be the last either, considering that this seems to be a tradition within the Korean company.
"This case is a matter of Lee Jay-yong and Samsung Group Executives, who had been steadily preparing for Lee's succession... bribing the president. The court also found Lee guilty of hiding assets abroad, embezzlement and perjury."
