Samsung heir sentenced to 5-year prison for corruption

Seoul (South Korea), Aug 25 (ANI): 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. The court also found Lee guilty of hiding assets abroad, embezzlement and perjury. Prosecutors say Lee gave bribes of nearly 40 million dollars for political favors. Lawyers have confirmed that they will appeal the ruling, but the court is not expected to grant bail. The widely held opinion is that the outcome of Lee's verdict would be an indication of what will happen to former leader Park Geun-hye, who faces more than 10 years in a prison cell.