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Heir to Samsung Billions Sentenced to Two Years in Jail Over Bribery Scandal

Lee Jae Yong was found guilty of bribery, embezzlement, and concealment of criminal proceeds worth almost $8 million.

The man who once stood on the cusp of inheriting the global tech giant Samsung has been sentenced to two-and-a-half years in jail. The heir, Lee Jae Yong, was found guilty for his part in a bribery scandal that shocked South Korea. His father, Lee Kun-hee, was the country’s richest man before his death in October. The younger Lee—who has already spent a year in jail on charges of bribing ousted president Park Geun-hye—has been facing trial as he tried to take full control of the business. However, his sentence will completely remove him from the company’s decision-making process. According to BBC News, the court decided that Lee “provided bribes and implicitly asked the president to use her power to help his smooth succession” as the head of Samsung. He was found guilty of bribery, embezzlement, and concealment of criminal proceeds worth almost $8 million. Lee's defence team called the decision “regrettable.”