You will be redirected back to your article in seconds

Samsung Boss Lee Jae-yong Released From Jail

Samsung heir apparent, Lee Jae-yong walked free from jail on Monday after a court in Seoul cut his sentence for bribery and embezzlement.

Lee had served a year in prison when the court halved his prescribed sentence from five years to two and a half. The court suspended the rest of his prison time, but expanded his probation to four years. Guilty findings on other charges, mean that he cannot leave South Korea without court approval.

The cases against Lee stem from the political and financial scandal that brought down former president Park Geun-hye. Lee was alleged to have made contributions to Park’s mysterious friend Choi Soon-sil and in return received permission to go ahead with various corporate maneuvers that strengthened his control over global powerhouse Samsung Electronics.

Lee denied the charges. The prosecution previously sought a 12 year prison term and is expected to challenge Monday’s ruling in a higher court.

 

 

More Biz

  • David Chang Partners With Bill Simmons

    David Chang Partners With Bill Simmons for Ringer Podcast

    Samsung heir apparent, Lee Jae-yong walked free from jail on Monday after a court in Seoul cut his sentence for bribery and embezzlement. Lee had served a year in prison when the court halved his prescribed sentence from five years to two and a half. The court suspended the rest of his prison time, but […]

  • Harvey Weinstein ousted

    Weinstein Co. Adds Board Member to Navigate Bankruptcy Sale

    Samsung heir apparent, Lee Jae-yong walked free from jail on Monday after a court in Seoul cut his sentence for bribery and embezzlement. Lee had served a year in prison when the court halved his prescribed sentence from five years to two and a half. The court suspended the rest of his prison time, but […]

  • Allison Mack

    'Smallville' Actress Allison Mack Arrested in Sex Cult Case

    Samsung heir apparent, Lee Jae-yong walked free from jail on Monday after a court in Seoul cut his sentence for bribery and embezzlement. Lee had served a year in prison when the court halved his prescribed sentence from five years to two and a half. The court suspended the rest of his prison time, but […]

  • Harvey Weinstein

    Harvey Weinstein Still Seeking His Emails to Combat Sexual Assault Claims

    Samsung heir apparent, Lee Jae-yong walked free from jail on Monday after a court in Seoul cut his sentence for bribery and embezzlement. Lee had served a year in prison when the court halved his prescribed sentence from five years to two and a half. The court suspended the rest of his prison time, but […]

More From Our Brands

Access exclusive content