The verdict also dealt a blow to Samsung's publicly stated position that recent business dealings or restructuring efforts have nothing to do with the succession of corporate leadership to Lee from his father.
In total, Samsung paid $7.9 million in bribes to the German company and a winter sports center, the judges said. The attempts to hide Samsung's involvement also constituted crimes, it said. Lee, in jail after convictions for bribery, embezzlement and other charges, has qualified for parole and is expected to leave prison this Friday, South. Samsung secretively provided a huge amount of money to Choi's Germany-based company that paid for the training and the exorbitantly priced foreign horses worth 3.6 billion won ($3.2 million) were part of the bribes, the verdict said. They said Lee was aware that Park wanted Samsung to sponsor the equestrian training. Judges pointed to an unusual arrangement in which Samsung bankrolled equestrian training for Choi's daughter as proof of Lee's knowledge of what was transpiring. She and Choi are both currently on trial.
#Samsung leader move forward out jail series
Park, who was embroiled in a tumultuous series of scandals, was removed from office in March. The closely-watched verdict is the latest convulsion in a political scandal that prompted millions of South Koreans to protest last fall, culminating in the ouster and arrest of Park as well as the arrests of Choi and Lee.
He said he was unaware of the foundations or the donations, which were overseen by other executives. But Lee, vice chairman at Samsung Electronics and the Samsung founder's grandson, claimed innocence during the court hearing. Please read the sidebar for more information.
#Samsung leader move forward out jail free
Free trade, open borders, taco trucks on every corner. Samsung has not denied transferring corporate funds. Samsung’s leader is out of jail, allowing US factory plans to move forward : neoliberal 123k members in the neoliberal community. Lee was accused of offering $38 million in bribes to four entities controlled by Choi Soon-sil, a long-time friend of Park, in exchange for government help with a merger that strengthened Lee's control over Samsung after his father suffered a heart attack in 2014. "We hope that it would pave the way to end persistent government-business collusion, which has hampered society from moving forward," its spokesman Yoon Young Chan said. South Korean President Moon Jae-in's office, in a rare commentary on a court ruling, welcomed the ruling as a step toward rooting out corruption. The verdict, however, could be good news for shareholders at South Korean companies who have complained about weak corporate governance that let founding families wield outsized influence and enjoy emperor-like authority even with minority ownership. "It will be a disaster not just to an individual company but to the nation's economy." "Samsung Electronics represents South Korea as a global company so we are deeply worried about the fallout from his long absence," said a Korea Employers Federation spokesman.
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