SEOUL -- Samsung Electronics Vice Chairman Lee Jae-yong was sentenced on Monday to two and half years in prison for bribery and embezzlement. The scion of South Korea's biggest conglomerate was arrested at court immediately after the ruling.
The Seoul High Court ruled that Lee must serve 30 months in prison for using corporate funds to pay an 8.7 billion won ($7.8 million) bribe to former South Korean President Park Geun-hye and her friend Choi Soon-sil in 2015. The court said the bribe was provided with the unspoken understanding that the National Pension Service would help smooth Lee's succession process by backing the merger of Cheil Industries and Samsung C&T, two affiliates of the group.
