Samsung Group head gets suspended jail term

06 February, 2018, 15:15 | Author: Shannon Newton
  • Samsung heir freed after jail term is cut for bribing ex-president

The court used its own discretion to suspend the five year jail sentence, despite upholding some of the charges brought against Me Lee.

The heir-apparent was sentenced to two-and-a-half years in prison with four years of probation at sentencing at the appeal trials that began in October.

Dubbed the "trial of the century", Lee's case gripped South Korea for months. Lee was the highest-profile business person caught up in the scandal, which eventually led to Park's impeachment.

Lee Jae-yong, vice chairman of Samsung Electronics, speaks before leaving a detention center in Uiwang, South Korea. He left the court shortly after the verdict was read, climbing into a bus that was waiting outside.

But the three-judge bench of the Seoul Central District Court found Lee guilty of paying bribes totaling $6.4 million, which he embezzled from the company, and then lied about it. Mr Lee said he plans to appeal again to clear his name of all the convictions.

Dow Jones industrials sink 500 points
Meanwhile wages rose at the fastest pace in more than eight years, suggesting employers are competing more fiercely for workers. The U.S. central bank has forecast three rate increases this year after raising borrowing costs three times in 2017.

However, Judge Cheong Hyung-sik on Monday said Lee's involvement in Samsung's financial support for Choi was a "passive compliance to political power".

He added he needed to visit his ailing father, Samsung Group patriarch Lee Kun-hee, who suffered a heart attack in 2014. It said as well that just 3.6 billion won had been paid in bribes, and not the 7.2 billion won the lower court had ruled.

Geoffrey Cain, the author of a forthcoming book on Samsung, said that South Korea was slack light on white-collar crime, particularly by the very wealthy. "The past one year was precious time for me during which I could look back at myself".

Such links were once seen as the key to South Korea's impressive rise from the ashes of its 1950-53 war but now are blamed for corruption, inequality and stifling innovation. Its combined businesses are estimated to account for around 15% of the country's entire economy. Lee's father was prosecuted on charges of bribery and tax evasion, who later received a presidential pardon.

Samsung vice chairman Jay Y. Lee has been released from prison following a successful appeal.

Eagles offer tickets to fan who feared missing Super Bowl
"I AM OFFICIALLY GOING TO THE SUPERBOWLLLLLL", the Rutgers University student said on her Facebook page Friday night. We don't have money for a ticket, ' her mom says. "If they would have went 0-16, I would still be their friends".

On Monday, Seoul High Court slashed Lee's sentence to two and a half years and also suspended it.

Samsung Electronics, the biggest and most profitable part of the group, has continued to perform strongly during Lee's incarceration.

Samsung reported record profit last week disclosing numbers that it's chip business pulls in more revenue than the intel corp. Neither Lee nor Samsung shared any immediate comment on the dismissal of the case.

But leading conservative newspapers Chosun Ilbo and Joong-Ang Ilbo, which together account for a 70 percent share of the South Korean newspaper market, made a decision to establish their own lines of defense for Lee.

Local nurse's video rant on disastrous flu season goes viral
Lockler told Pensacola News Journal in a phone interview Wednesday that she has personally witnessed some of the carelessness. It may not have been her intention, but she is thrilled that her important message is getting out.



Militant Escapes from Indian Police Custody in Kashmir
The attack ended with the terrorists escaping into the narrow lanes and bylanes of downtown Srinagar , a police official said. But while entering the hospital premises, two to three militants waiting for them opened fire injuring two cops.

Pak can not separate Kashmir from India: Rajnath Singh
Shahid Khaqan Abbasi on Monday said while addressing AJK Legislative Assembly that Kashmiris are not alone, 200 million Pakistanis stand by them.

Sensex ends 309 points lower; Nifty settles at 10667-mark
Australian shares dropped 3.0 percent to their lowest level since October while South Korean shares dropped 2.0 percent. On Monday, the Indian currency closed flat at 64.07 against the U.S. currency amid sharp losses in local equities.

Health officials warn of rise in influenza, urge vaccinations
Doctors suggest seeing a physician if you start having any of the flu symptoms including: headaches, body aches and/or fever. The heavy flu season has also put a strain in places on some medical supplies, including IV bags, and flu medicine.

1000 miners stuck underground at Sibanye mine: Reported by South African union
Sibanye-Stillwater says 336 miners have been freed, but it is unclear how many men remain underground. Unions have long accused mining companies of poor wages and skimping on health and safety standards.

Spice Girls' reunite: Remembering Girl Power at its best
Still the biggest-selling girl group of all time, the Spice Girls reunited for a world tour in 2007. They last performed together at the closing ceremony for the 2012 London Olympics.

A warning for party-goers this Super Bowl weekend
This simple app only has three options: call a taxi, call a friend, and identify your location for pickup. In 2016, the NHTSA recorded 10,497 fatalities in traffic crashes involving drunk drivers nationwide.

Car Slams Into Pedestrians in Shanghai
The crash triggered fear among public that it was a terror attack in the heart of the Chinese financial hub. The police said that the driver, identified as Chen, 40, was not concentrating on the road and was smoking.

VIDEO shows precision strike on militants that downed Russian jet in Syria
TASS reported that "according to preliminary information, the plane was shot down from a portable anti-aircraft missile system". The Russian Defense Ministry confirmed the downing of the Su-25 and said the pilot was killed in fighting with "terrorists".

Australia U-19 World Cup final today
Six years ago India wins this title under the Captaincy of Unmukt Chand and India wins the title third time in under19 History. Australia is looking confident with his last win, which came against Afganistan in the Semifinal of ICC U19 World Cup 2018.