Audio By Carbonatix
A court in South Korea has sentenced Samsung's billionaire heir-apparent Lee Jae-yong to five years in prison for corruption.
Mr Lee was accused of bribery in a scandal that also saw the impeachment of South Korea's former president.
The case has gripped the public amid growing anger against South Korea's biggest companies, known as chaebols.
Mr Lee, who denied all charges, had faced a jail sentence of up to 12 years.
Also known as Jay Y Lee, the de facto head of the world's largest smartphone maker had been detained since February on a string of corruption charges.
These included including bribery, embezzlement and hiding assets overseas.
The 49-year-old was accused of giving donations worth 41bn won ($36m; £29m) to non-profit foundations operated by Choi Soon-sil, a friend of South Korea's former President Park Geun-hye, in return for political favours.
Prosecutors said the donations were made to Ms Park's confidante to win government support for a big restructuring of Samsung that would strengthen Mr Lee's control over Samsung Electronics.
A lawyer for Mr Lee has said already said they will appeal against the decision.
"We are confident the ruling will be overturned," lawyer Song Wu-cheol told reporters after the ruling, according to Reuters.
Nevertheless this ruling represents a huge blow to South Korea' biggest and most well-known business empire. Since the verdict, Samsung shares fell by 1%.
The conviction raises questions about Mr Lee's leadership of the conglomerate. He has been standing in as chairman since his father, Lee Kun-hee, suffered a heart attack in 2014.
The Samsung scandal contributed to President Park's eventual impeachment. Her friend Choi Soon-sil has already been jailed for three years for corruption.
Latest Stories
-
Ghana Impact Project donates $20k to restore mobility for children
7 minutes -
JoyNews’ Kwaku Asante named Best Radio and TV Journalist in Parliamentary Reporting
1 hour -
Education Ministry updates EMIS indicators to strengthen ICT integration in schools
1 hour -
Interior Ministry declares Christmas, Boxing Day and New Year’s Day public holidays
2 hours -
President Mahama directs Finance Ministry to disburse $78m for completion of Takoradi–Agona-Nkwanta road
2 hours -
Interior Minister lauds NIA staff for dedication, pledges continued government support
2 hours -
First Atlantic Bank will run a “proper and decent business” to protect shareholder value – CEO
2 hours -
First Atlantic Bank targets African expansion as IPO strengthens capital, governance
3 hours -
First Atlantic Bank CEO attributes IPO and GSE listing decision to renewed confidence in Ghana’s economy
3 hours -
GPL 2025/26: Bechem United end All Blacks 6-game unbeaten run
3 hours -
Eggs fly off shelves as shoppers throng The Multimedia Group’s X’mas Egg Market on final day
4 hours -
Bankable energy: Why Africa’s downstream sector is the next global investment frontier
4 hours -
Working Capital Management: Do’s and don’ts to consider for 2026
5 hours -
Gold Fields Ghana Foundation empowers youth through education and skills training
5 hours -
Gov’t hid study showing lithium refining can’t be done in Ghana- Bright Simons
5 hours
