Samsung Chief Jay Y Lee Found Guilty, Jailed 5 Years

By Dipo Olowookere

An heir to the Samsung Empire, Mr Jay Y Lee, has been found guilty of a bribery allegation against him by a South Korean court.

The court, on Friday, August 25, 2017, ruled that the Samsung chief should be put behind bars for five year.

However, Mr Lee has denied any wrongdoing and his lawyers have vowed to appeal the judgement.

Jay Y. Lee is the co-Vice Chairman of Samsung Electronics and was found guilty by the court of giving bribes to receive backing from the ousted South Korean President, Park Geun-hye.

He was also convicted of embezzlement, hiding assets overseas and perjury.

This development comes as Samsung debuts its new Galaxy Note 8.