Prosecutors Seek 12-Year Sentence for Samsung Chief

Prosecutors Seek 12-Year Sentence for Samsung Chief

Prosecutors Seek 12-Year Sentence for Samsung Chief

South Korean prosecutors have recommended imprisoning a billionaire Samsung heir for 12 years if he is convicted of bribery and other crimes in a national corruption scandal.

Lee, vice chairman of Samsung Electronics, became emotional Monday as he denied ever trying to seek political favors in his final remarks in the four-month-long trial.

"We have an opportunity to establish the rule of law", special prosecutor Park Young-soo said, according to Bloomberg.

Samsung's de-facto leader Lee Jae-yong fought back tears as he made a final statement in his trial for bribery and embezzlement.

The special prosecutors' team also demanded jail terms between 7 to 10 years for four other Samsung executives and officials.

"The defendants were closely tied to power and sought personal gains", the prosecutors were quoted by AFP as saying.

The Samsung heir allegedly gave or planned to give a total of 38-million USA dollars to former President Park Geun-hye and her longtime confidante Choi Soon-sil in various forms, including donations to Choi's organizations and a sponsorship of the equestrian training of Choi's daughter.

A panel of three judges at the Seoul Central District Court said they will hand down their verdict on August 25.

South Korean police on Monday raided a management office for residences of Samsung Electronics Chairman Lee Kun-hee and his family over alleged misappropriation of company funds used to pay for interior renovations, they said.

Samsung, whose group revenues are equivalent to nearly a fifth of South Korea's GDP, did not comment on the prosecutors' demand. One such deal was a merger between Samsung's two subsidiaries, Cheil Industries Inc. and Samsung C&T Corporation, which was expected to strengthen Lee's position within the Samsung Group. Both Park and Choi have refused to testify at Lee's trial.

Choi, the former president's confidante, was sentenced to three years in prison in June.

Lee has insisted he played no part in decisions concerning the wider Samsung group and "mostly listened to other executives".

Recommended News

  • Australia Maintains Record Low Interest Rate

    Australia Maintains Record Low Interest Rate

    The current high level of residential construction is forecast to be maintained for some time, before gradually easing. The economy is nearly out of the reversal of mining investment that had been weakening growth of late - another bonus.
    Former Egypt manager Bob Bradley appointed LAFC manager

    Former Egypt manager Bob Bradley appointed LAFC manager

    The club's technical side is run now by former MLS , English Championship and U.S. national team midfielder John Thorrington. Bradley last coached in MLS back in 2005 under the New York-New Jersey Metrostars (now the New York Red Bulls).
    James Bond set to return - but who will play him?

    James Bond set to return - but who will play him?

    The new movie will be the 25th in the Bond franchise. Those movies are not counted on the 007 website . Film was not produced by Eon Productions.
  • Iranians: US Navy ship fired warning flares in Persian Gulf

    Iranians: US Navy ship fired warning flares in Persian Gulf

    A U.S. official, speaking on the condition of anonymity, said the Iranian boat was armed but its weapons were unmanned. No warning shots were fired during that encounter, but U.S. defense officials criticized the use of the Iranian laser.
    Heroes remembered on Kargil Vijay Diwas

    Heroes remembered on Kargil Vijay Diwas

    Tendulkar said, Saluting our fearless soldiers who served at #Kargil, and those who continue to serve and protect us each day. Singh said: "I distinctly remember the way our soldiers fought at Kargil".
    Embassy Staff Return to Israel After Amman Shooting Incident

    Embassy Staff Return to Israel After Amman Shooting Incident

    Jordanian security forces reportedly held mobs of protesters who had gathered at the embassy at bay following the incident. Israeli Prime Minister Benjamin Netanyahu and Jordan's King Abdullah spoke that afternoon by telephone.
  • Italian Police Arrest Suspected Kidnapper Of British Model

    Italian Police Arrest Suspected Kidnapper Of British Model

    The woman, who has not been named, was allegedly kidnapped by two men on 11 July as she turned up for a fake photo shoot . When she awoke the next day, she found herself handcuffed to a wooden chest in an isolated hut near Turin.

    Boy Scouts balk in response to Trump's latest bogus boasts

    I'm a guy that will tell you mixed. "We sincerely regret that politics were inserted into the Scouting program". Any type of political chanting was specifically discouraged. "So there was - there was no mix", Trump added.
    Congress parades Gujarat MLAs; claims BJP tried to bribe them

    Congress parades Gujarat MLAs; claims BJP tried to bribe them

    However, the BJP has made a decision to field the new joinee Balwantsinh Rajput in the third RS seat against Ahmed Patel. The State Government must ensure that there shouldn't be epidemic situation even after the floodwater recedes, he added.
  • Fire engulfs Dubai's Torch Tower, one of the world's tallest residential buildings

    Fire engulfs Dubai's Torch Tower, one of the world's tallest residential buildings

    At least 80 people died in the fire at the west London high-rise after residents became trapped in the burning building. Smoke and fire rise from a high rise building at Marina district in Dubai , United Arab Emirates, Friday, Aug. 4, 2017.
    Auto sales sputtering for 7th straight month

    Auto sales sputtering for 7th straight month

    The carmaker had a supply of 104 days as of July 31, which was down from its end of June mark of 105 days. Carmakers have used lower-margin sales to rental fleets as a way to avoid shutdowns in plants.
    Inflation rate cools in June quarter

    Inflation rate cools in June quarter

    To strip out such one-off influences, the Reserve Bank of Australia (RBA ) looks at various measures of underlying prices. Plenty of headwinds to inflation remain including record-low wage growth and the recent climb in the Australian dollar .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.