Samsung leader Jay Y. Lee given five-year jail sentence for bribery

Samsung Heir Gets 5 Years for Scandal That Toppled a President

• Jay Y. Lee guilty of bribery, embezzlement, court says
• Samsung shares trading near record amid robust sales, profit

Jay Y. Lee is set to spend the next five years in prison, one of the harshest sentenceshanded to a South Korean chaebol executive, after a court convicted him of bribing his way to greater control of the Samsung empire his family founded.

The trial, part of a bigger corruption scandal that brought down South Korea’s president, transfixed the nation as it shone a spotlight on the close ties between chaebol business groups and the political elite. Prosecutors had sought 12 years in prison for the 49-year-old billionaire, whose lawyer said he would appeal. Any sentence of more than 3 years can’t be suspended.

The judgment reflects a greater willingness by South Korea to break the ties between the wealthy and those in power. In the past, a long list of business leaders, including Lee’s father, were convicted for corrupt behavior only to be let off easy. The younger Lee is unlikely to enjoy such leniency. The Samsung scion, who golfed and traveled extensively to foster ties with tech executives, mostly kept a blank expression as the verdict was read