Samsung chief Jay Y. Lee given five year sentence for role in South Korean corruption scan...

Posted:
in General Discussion
Jay Y. Lee, the head of the Samsung Group, has been sentenced to 5 years in jail by a South Korean court after a six-month trial, convicted for bribery and other charges relating to a national scandal that saw the downfall of former Korean President Park Geun-hye.




The court ruled on Friday that Lee had paid bribes in order to receive favors from the President at the time, Reuters reports, with Lee claimed to have directed $26 million to organizations linked to Choi-Soon-sil, a close friend of President Park Geun-hye. The favors were said to include support from the National Pension Services for a merger between Cheil Industries and Samsung C&T in 2015, a move that would have provided Lee with more power within the Samsung organization.

Lee was also found guilty of embezzlement, perjury, and of hiding assets abroad.

"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." said Seoul Central District Court Judge Kim Jin-dong. As the heir apparent to the group, Lee "stood to benefit the most" from any political favors that aided the Samsung group.

The jail term is going to cause some disruption for the Samsung Group, as Lee was the stand-in leader for the company after his father suffered a heart attack in 2014. The sentence will make it difficult for Lee to return to the conglomerate - a "chaebol" - which has been under his family's control since its founding, with it almost certainly looking to find a new leader amongst its ranks.

Lee has denied any wrongdoing, with lawyer Song Wu-cheol insisting "The entire guilty verdict is unacceptable," and that Lee would appeal. If it is appealed up to the country's Supreme Court, a hearing could take place next year.

Even so, it is still possible that Lee will get away without a lengthy prison sentence, due to the influence of the company and similar other chaebols in the region. Bloomberg reports his father, Lee Kun-hee, received a suspended three-year prison sentence for tax evasion in 2008, and was later pardoned by then-President Lee Myung-bak.

On the same day, a number of other former executives received convictions for their roles in the scandal. Former corporate strategy office chief Choi Gee-sung and former president Chang Choong-ki received sentences of four years in prison, with suspended prison terms given to two other executives.

President Park Geun-hye was impeached in December 2016 and removed from office in March over the allegations, and will be facing charges of abuse of power, coercion and bribery. Park denied the corruption charges in May, with the trial expected to last at least six months.
«1

Comments

  • Reply 1 of 35
    RacerhomieXRacerhomieX Posts: 95unconfirmed, member
    Beautiful. Explosive leadership, along with a explosive phone
    peterharttallest skilwatto_cobra
  • Reply 2 of 35
    lkrupplkrupp Posts: 6,516member
    Can we officially call them Samscum now? How about Samdung? Any more questions as to how Samdung does business? I live in Illinois and saw a really neat T-shirt the other day. It had pictures of former governors Rod Blagojevich and George Ryan (both are/were in Federal prison) and the caption “In Illinois our Governors also make our license plates” I’m thinking a T-shirt with a picture of Jay Y. Lee behind bars with the Samsung logo and the caption “Would you buy a cellphone from this guy?” might sell well. What do you think?
    cyberzombieStrangeDaysigorskywatto_cobrajony0
  • Reply 3 of 35
    slurpyslurpy Posts: 5,062member
    For people that support, praise, and shill for Samsung and their products, this is the kind of corrupt trash they support. Well done. 


    StrangeDaysigorskyjahbladebaconstangwatto_cobrajony0
  • Reply 4 of 35
    wigbywigby Posts: 681member
    lkrupp said:
    Can we officially call them Samscum now? How about Samdung? Any more questions as to how Samdung does business? I live in Illinois and saw a really neat T-shirt the other day. It had pictures of former governors Rod Blagojevich and George Ryan (both are/were in Federal prison) and the caption “In Illinois our Governors also make our license plates” I’m thinking a T-shirt with a picture of Jay Y. Lee behind bars with the Samsung logo and the caption “Would you buy a cellphone from this guy?” might sell well. What do you think?
    Nice. How about "In S. Korea, our prisoners also make our phones"?
    edited August 2017 igorskyrepressthiswatto_cobra
  • Reply 5 of 35
    avon b7avon b7 Posts: 2,888member
    igorsky said:
    Just another Asian company doing whatever it takes to win, including breaking the law. Move along, nothing to see here. Everyone in the world who helps support these clowns by buying their products should feel proud of themselves.
    Isn't that what Microsoft did for years to keep Windows on the top of the hill? Or Volkswagen with emissions? Or any other number of companies fixing prices etc. Even Apple got hauled over the coals over accusations that it was not being competitive with eBook pricing. It's not an 'Asian' only thing.

    And don't forget that Apple 'supports those clowns' like there's no tomorrow, helping to push Samsung earnings to their highest ever levels.
  • Reply 6 of 35
    Rayz2016Rayz2016 Posts: 4,433member
    sog35 said:
    5 years my ass.

    Dude will be pardoned in 12 months.
    Without a doubt. 
    repressthiswatto_cobra
  • Reply 7 of 35
    Rayz2016Rayz2016 Posts: 4,433member
    Paying money to curry favour with politicians. 

    Isnt that what westerners call 'lobbying'?
    irelandfotoformatavon b7gatorguybaconstangcornchipwatto_cobrarevenantnetmage
  • Reply 8 of 35
    SpamSandwichSpamSandwich Posts: 30,211member
    Boom! You're welcome.
    watto_cobra
  • Reply 9 of 35
    nhtnht Posts: 4,308member
    avon b7 said:
    igorsky said:
    Just another Asian company doing whatever it takes to win, including breaking the law. Move along, nothing to see here. Everyone in the world who helps support these clowns by buying their products should feel proud of themselves.
    Isn't that what Microsoft did for years to keep Windows on the top of the hill? Or Volkswagen with emissions? Or any other number of companies fixing prices etc. Even Apple got hauled over the coals over accusations that it was not being competitive with eBook pricing. It's not an 'Asian' only thing.

    And don't forget that Apple 'supports those clowns' like there's no tomorrow, helping to push Samsung earnings to their highest ever levels.
    Amusing that you defend Apple's competitors at every turn (even when arrested for corruption...in Korea no less) and throw shade on everything Apple does but whine when you are called a troll.
    edited August 2017 StrangeDaysRayz2016suddenly newtonbaconstangwatto_cobranetmage
  • Reply 10 of 35
    avon b7avon b7 Posts: 2,888member
    nht said:
    avon b7 said:
    igorsky said:
    Just another Asian company doing whatever it takes to win, including breaking the law. Move along, nothing to see here. Everyone in the world who helps support these clowns by buying their products should feel proud of themselves.
    Isn't that what Microsoft did for years to keep Windows on the top of the hill? Or Volkswagen with emissions? Or any other number of companies fixing prices etc. Even Apple got hauled over the coals over accusations that it was not being competitive with eBook pricing. It's not an 'Asian' only thing.

    And don't forget that Apple 'supports those clowns' like there's no tomorrow, helping to push Samsung earnings to their highest ever levels.
    Amusing that you defend Apple's competitors at every turn (even when arrested for corruption...in Korea no less) and throw shade on everything Apple does but whine when you are called a troll.
    Ah! So now I'm defending Samsung?

    I thought I was highlighting a poorly reasoned attack on a company just for bring Asian and pointing out how ironic it was that, for the poster at least, Apple was in the group of 'clowns' supporting them by purchasing from them.

    And all the while I was wrong? LOL!

    Yes, it's so amusing.


  • Reply 11 of 35
    fred1fred1 Posts: 280member
    sog35 said:
    igorsky said:
    Just another Asian company doing whatever it takes to win, including breaking the law. Move along, nothing to see here. Everyone in the world who helps support these clowns by buying their products should feel proud of themselves.
    pretty racist bro.

    Lets not forget who's responsible for the holocaust and the housing crisis of 2008 that nearly destroyed the entire world economy.  
    It's not racist unless it's not true and applies to only one race.  But this kind of corruption is very common in Asia, Europe, Africa, Russia, South America, Australia, oh and North America. 
  • Reply 12 of 35
    nhtnht Posts: 4,308member
    avon b7 said:
    nht said:
    avon b7 said:
    igorsky said:
    Just another Asian company doing whatever it takes to win, including breaking the law. Move along, nothing to see here. Everyone in the world who helps support these clowns by buying their products should feel proud of themselves.
    Isn't that what Microsoft did for years to keep Windows on the top of the hill? Or Volkswagen with emissions? Or any other number of companies fixing prices etc. Even Apple got hauled over the coals over accusations that it was not being competitive with eBook pricing. It's not an 'Asian' only thing.

    And don't forget that Apple 'supports those clowns' like there's no tomorrow, helping to push Samsung earnings to their highest ever levels.
    Amusing that you defend Apple's competitors at every turn (even when arrested for corruption...in Korea no less) and throw shade on everything Apple does but whine when you are called a troll.
    Ah! So now I'm defending Samsung?
    Yes, with false equivalences like equating Samsung's corruption charges with Apple's eBook deal.
    stanthemanStrangeDaysradarthekatsuddenly newtonbaconstangwatto_cobranetmage
  • Reply 13 of 35
    fred1 said:
    sog35 said:
    igorsky said:
    Just another Asian company doing whatever it takes to win, including breaking the law. Move along, nothing to see here. Everyone in the world who helps support these clowns by buying their products should feel proud of themselves.
    pretty racist bro.

    Lets not forget who's responsible for the holocaust and the housing crisis of 2008 that nearly destroyed the entire world economy.  
    It's not racist unless it's not true and applies to only one race.  But this kind of corruption is very common in Asia, Europe, Africa, Russia, South America, Australia, oh and North America. 
    You neglected to smear Antarctica.  There are ratings agencies that judge corruption nation-by-nation. So there is no need to stereotype people according to the continent where they live.  Laws and customs differ from one nation to the next. 
    avon b7
  • Reply 14 of 35
    avon b7avon b7 Posts: 2,888member
    nht said:
    avon b7 said:
    nht said:
    avon b7 said:
    igorsky said:
    Just another Asian company doing whatever it takes to win, including breaking the law. Move along, nothing to see here. Everyone in the world who helps support these clowns by buying their products should feel proud of themselves.
    Isn't that what Microsoft did for years to keep Windows on the top of the hill? Or Volkswagen with emissions? Or any other number of companies fixing prices etc. Even Apple got hauled over the coals over accusations that it was not being competitive with eBook pricing. It's not an 'Asian' only thing.

    And don't forget that Apple 'supports those clowns' like there's no tomorrow, helping to push Samsung earnings to their highest ever levels.
    Amusing that you defend Apple's competitors at every turn (even when arrested for corruption...in Korea no less) and throw shade on everything Apple does but whine when you are called a troll.
    Ah! So now I'm defending Samsung?
    Yes, with false equivalences like equating Samsung's corruption charges with Apple's eBook deal.
    No. I am not equating anything. Simply putting some sorely needed balance into the claim.

    Btw, Apple was found guilty of conspiracy to harm consumer interests through pricing. The US Supreme Court even refused to hear it's Appeal. The original ruling was very, very clear in spite of Apple's claims.

    http://www.reuters.com/article/us-apple-ebooks-idUSBRE9690GE20130710
    edited August 2017 singularity
  • Reply 15 of 35
    StrangeDaysStrangeDays Posts: 6,012member
    avon b7 said:
    igorsky said:
    Just another Asian company doing whatever it takes to win, including breaking the law. Move along, nothing to see here. Everyone in the world who helps support these clowns by buying their products should feel proud of themselves.
    Isn't that what Microsoft did for years to keep Windows on the top of the hill? Or Volkswagen with emissions? Or any other number of companies fixing prices etc. Even Apple got hauled over the coals over accusations that it was not being competitive with eBook pricing. It's not an 'Asian' only thing.

    And don't forget that Apple 'supports those clowns' like there's no tomorrow, helping to push Samsung earnings to their highest ever levels.
    You’re trying to compare bribing government officials (Samsung) to allowing publishers to set their own ebook prices (Apple). the two are not remotely equal. Thus you are using the fallacy of false equivalence. Errrnntt! Thanks for playing. 
    radarthekatbaconstangwatto_cobrabadmonknetmage
  • Reply 16 of 35
    avon b7avon b7 Posts: 2,888member
    avon b7 said:
    igorsky said:
    Just another Asian company doing whatever it takes to win, including breaking the law. Move along, nothing to see here. Everyone in the world who helps support these clowns by buying their products should feel proud of themselves.
    Isn't that what Microsoft did for years to keep Windows on the top of the hill? Or Volkswagen with emissions? Or any other number of companies fixing prices etc. Even Apple got hauled over the coals over accusations that it was not being competitive with eBook pricing. It's not an 'Asian' only thing.

    And don't forget that Apple 'supports those clowns' like there's no tomorrow, helping to push Samsung earnings to their highest ever levels.
    You’re trying to compare bribing government officials (Samsung) to allowing publishers to set their own ebook prices (Apple). the two are not remotely equal. Thus you are using the fallacy of false equivalence. Errrnntt! Thanks for playing. 
    Wrong again.

    Look at my first post in this thread.
    Look at what I am replying to.

    What did the OP say?

    Fit my reply into that context not the one you are trying to build.
  • Reply 17 of 35
    SoliSoli Posts: 8,403member
    Rayz2016 said:
    Paying money to curry favour with politicians. 

    Isnt that what westerners call 'lobbying'?
    Don't forget Citizens United and Super PACs which allow for legal money laundering.
    baconstangcornchip
  • Reply 18 of 35
    SoliSoli Posts: 8,403member
    This is surprising considering Samsung's pull with the S. Korean gov't. I'd say forr him to get 5 years means this is a ridiculously more corrupt than any of us will ever know. It does give me hope that we could see some similar justice be handed out in the US shortly for current corrupt activities.
    cornchipwatto_cobra
  • Reply 19 of 35
    Rayz2016Rayz2016 Posts: 4,433member
    avon b7 said:
    avon b7 said:
    igorsky said:
    Just another Asian company doing whatever it takes to win, including breaking the law. Move along, nothing to see here. Everyone in the world who helps support these clowns by buying their products should feel proud of themselves.
    Isn't that what Microsoft did for years to keep Windows on the top of the hill? Or Volkswagen with emissions? Or any other number of companies fixing prices etc. Even Apple got hauled over the coals over accusations that it was not being competitive with eBook pricing. It's not an 'Asian' only thing.

    And don't forget that Apple 'supports those clowns' like there's no tomorrow, helping to push Samsung earnings to their highest ever levels.
    You’re trying to compare bribing government officials (Samsung) to allowing publishers to set their own ebook prices (Apple). the two are not remotely equal. Thus you are using the fallacy of false equivalence. Errrnntt! Thanks for playing. 
    Wrong again.

    Look at my first post in this thread.
    Look at what I am replying to.

    What did the OP say?

    Fit my reply into that context not the one you are trying to build.
    Will someone please take this man's shovel away from him?
    StrangeDayscornchipwatto_cobranetmagedanh
  • Reply 20 of 35
    igorskyigorsky Posts: 416member
    avon b7 said:
    igorsky said:
    Just another Asian company doing whatever it takes to win, including breaking the law. Move along, nothing to see here. Everyone in the world who helps support these clowns by buying their products should feel proud of themselves.
    Isn't that what Microsoft did for years to keep Windows on the top of the hill? Or Volkswagen with emissions? Or any other number of companies fixing prices etc. Even Apple got hauled over the coals over accusations that it was not being competitive with eBook pricing. It's not an 'Asian' only thing.

    And don't forget that Apple 'supports those clowns' like there's no tomorrow, helping to push Samsung earnings to their highest ever levels.
    Nowhere did I state that this is an "Asian only" thing.  But shady activity is defenitely a "Samsung thing".

    Take your Samsung fluffing elsewhere.
    edited August 2017 watto_cobranetmage
Sign In or Register to comment.