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

  • Bruno Mars Grammys

    Recording Academy Announces Date, Deadlines for 2019 Grammy Awards

    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 […]

  • Ron Burkle

    Ron Burkle Sues Lantern Capital Over Weinstein Co. Costs

    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 […]

  • Netflix Reed Hastings

    Netflix Falls Short of Q2 Subscriber Expectations Worldwide, Stock Dives

    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 […]

  • Johnny Depp

    Johnny Depp Settles Feud With Former Managers

    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 […]

  • Lantern Capitol

    Weinstein Co. Closes $289 Million Sale to Lantern Capital

    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