Samsung Heir Jay Y. Lee Jailed For 5 Years In Bribery Case
Lee Jae-Yong, acting vice-chairman of Samsung has been given five years imprisonment over bribery case. Lee who is the son of Lee Kun-hee, Chairman of Samsung the worlds popular Smartphone and memory chip maker.
The case has been filed as Lee Jae-Yong bribed the countries former President Park Geun-hye for political favor. Which he denied but the court apparently found enough evidence to jail him. Lee, the vice-chairman of the company arrived at Seoul Central District Court on justice ministry bus handcuffed, white rope bound to his jacket and an envelope of his documents in hand.
The court has confirmed that the money transaction was done in favor of asking government support for hereditary succession after his father was bedridden in 2014.
Although this will not have any impact on the company it possibly could ruin the companies brand and reputation in one way or other.
Even though Lee has been the actual leader since his father fell ill, all his layers and ex-members of the vast group portrait him as nave and inexperienced in making business decisions. The writer of the book The Republic of Samsung Geoffrey Cain said Samsung will not be doomed without Jay Lee” and “It’s up to the specialists to make their own decisions.”
Meanwhile, the lawyers of Samsung said that they will file an appeal against the court order. And Song Wu-Cheol said to reporters after the ruling in Seoul Central District Court We are confident the ruling will be overturned,”.