Wednesday, 18 October, 2017
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  • Prosecutors Seek 12-Year Sentence for Samsung Chief

Prosecutors Seek 12-Year Sentence for Samsung Chief

Police raid office of Samsung family residences over suspected illicit payments Prosecutors seek 12-year sentence for Samsung boss in bribery trial
Rosalie Gross | 08 August, 2017, 01:48

The Samsung heir allegedly gave or planned to give a total of 38-million US dollars to former President Park Geun-hye and her longtime confidante Choi Soon-sil in various forms, including donations to Choi's organizations and a sponsorship of the equestrian training of Choi's daughter. She could face life in prison.

The billionaire scion of South Korea's richest family told the court: "I have never asked anyone, including the president, for anything for the company or my personal gain".

Special prosecutor Park Young-soo's independent counsel team, formed specially to investigate a massive corruption scandal that led to the country's first ever impeached president, demanded the jail sentence at Lee's final trial held at the Seoul Central District Court.

The group has rejected investor demands to restructure into a holding company and an operating company. The court will deliver its verdict on 25 August. Lee and others denied the charges, reiterating that the funds were to support horse-riding prospects with no intentions of providing special favors to Chung and that the contributions to the foundations and the sports elite center were unconditional donation. Park accused Samsung officials of lying in their testimonies to protect Lee.

Park Geun-hye went on trial in May. The prosecutors said he was the ultimate beneficiary in the scandal, AFP reported. The merger would have eased Lee's path to take over control of the entire conglomerate from his ailing father.

Lee allegedly offered $38m (£29m) in bribes to four entities controlled by Choi, to whom Park often turned for advice on policy, such as the security threat from North Korea. The National Pension Service (NPS) was then-biggest shareholder of one of the two Samsung units.

Lee and four other executives are accused of paying or promising Choi, who was handed a three-year jail term in June, more than $38m to win presidential favours and ease a controversial 2015 merger deal.

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