August 25 2017
A bribery and cronyism scandal that has already toppled a South Korean president has claimed a major business scalp after a court sentenced Lee Jae-yong, the acting chairman of Samsung, to five years in prison for crimes including offering bribes and perjury.
The billionaire, South Korea’s third-richest man and heir to the sprawling Samsung empire, had been accused of making large donations to foundations run by a close friend and confidante of the deposed South Korean president, Park Geun-hye, in return for political favours.