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Samsung heir given 5-yr prison term

In 2008, it was for tax evasion and Jay Y Lee was given a suspended three-year prison sentence

Sam Kim | Bloomberg 

Jay Y Lee is set to spend the next five years in prison, one of the harshest sentences handed to a South Korean chaebol executive, after a court convicted him of bribing his way to greater control of the Samsung empire his family founded. The trial, part of a bigger corruption scandal that brought down South Korea’s president, transfixed the nation as it shone a spotlight on the close ties between chaebol business groups and the political elite. Prosecutors had sought 12 years in prison for the 49-year-old billionaire, whose lawyer said he would appeal. Any sentence of more than 3 ...

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First Published: Sat, August 26 2017. 03:11 IST