{"id":104574,"date":"2021-01-18T00:00:54","date_gmt":"2021-01-18T00:00:54","guid":{"rendered":"https:\/\/fin2me.com\/?p=104574"},"modified":"2021-01-18T00:00:54","modified_gmt":"2021-01-18T00:00:54","slug":"samsungs-lee-faces-sentencing-for-bribery-charge-after-four-years-of-trials","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/samsungs-lee-faces-sentencing-for-bribery-charge-after-four-years-of-trials\/","title":{"rendered":"Samsung's Lee faces sentencing for bribery charge after four years of trials"},"content":{"rendered":"

SEOUL (Reuters) – A South Korean court will sentence Samsung Electronics Co Ltd heir Jay Y. Lee on a bribery charge on Monday, a ruling likely to have ramifications for his leadership of the tech giant as well as South Korea\u2019s views toward big business.<\/p>

FILE PHOTO: Samsung Electronics Vice Chairman, Jay Y. Lee, speaks during a news conference at a company’s office building in Seoul, South Korea, May 6, 2020. REUTERS\/Kim Hong-Ji\/Pool<\/figcaption>

If Lee is jailed, he will be sidelined from major decision making at Samsung Electronics as it strives to overtake competitors, and will be diverted from overseeing the process of inheritance from his father, who died in October, crucial to keeping control of Samsung.<\/p>\n

If Lee remains free, he will be able to devote himself to both while likely facing strong backlash claiming the South Korean legal process shows undue leniency to chaebol, or family-run conglomerates, criticised for wielding too much power amid lapses in governance.<\/p>\n

Lee, 52, was convicted of bribing an associate of former President Park Geun-hye and jailed for five years in 2017. He denied wrongdoing, the sentence was reduced and suspended on appeal, and he was released after serving a year.<\/p>\n

The Supreme Court then sent the case back to the Seoul High Court, which will rule on it, and the sentencing, on Monday.<\/p>\n

Under South Korean law, a jail term of three years or less can be suspended; for longer sentences, the person must serve out the term barring a presidential pardon.<\/p>\n

Prosecutors have called for a nine-year jail term.<\/p>\n

If imprisoned, the year Lee already served in detention will count toward the sentence, as it is the same case.<\/p>\n

Monday\u2019s sentencing can be appealed to the Supreme Court.<\/p>\n

\u201cIn a case sent back by the Supreme Court, there is a narrower range of options for the judges\u2019 bench… but it\u2019s also true that the Supreme Court can\u2019t really touch the final court\u2019s sentencing no matter what it is,\u201d said Rha Seung-chul, a lawyer not connected with the case.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SEOUL (Reuters) – A South Korean court will sentence Samsung Electronics Co Ltd heir Jay Y. 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