Lee Jae-yong — referred to as Jay Y. Lee within the West — the de facto chief and inheritor to the Samsung Group conglomerate, has been ordered again to jail for 2 years and 6 months on bribery prices, according to Bloomberg.

The billionaire son of controversial Samsung chairman Lee Kun-hee, who died in October, was first jailed in 2017 in a succession scandal that noticed the removing of president Park Geun-hye. Lee served only one yr of a five-year sentence earlier than a retrial was ordered in 2019.

Lee had been accused of providing horses and different bribes to a buddy of the previous president to win authorities assist for his succession at Samsung. Park is serving a 20-year sentence on quite a lot of prices together with bribery associated to Samsung.

In December, Lee provided a rare public apology for his function within the succession plot. He additionally pledged that he wouldn’t cross administration management of the Korean dynasty to his youngsters. Lee Jae-yong is the grandson of Samsung founder Lee Byung-chul.

The ruling is predicted to create a management vacuum on the prime of the conglomerate, probably complicating main strategic selections. Samsung is presently run by a group of senior executives.

An lawyer for Lee known as the choice “regrettable,” in response to Bloomberg.



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