Samsung chief Lee Jae-yong gets 5-year prison term for corruption. A South Korean court has found Lee Jae-yong, the de facto chief of Samsung Electronics, guilty of bribery and other corruption charges. Lee Jae-yong, the billionaire son of Samsung’s ailing chairman, was sentenced to five years in prison on Friday. Prosecutors initially wanted to nail in a 12-year prison term for lee. Samsung is the world’s largest smartphone maker and South Korea’s biggest family-run conglomerate whose businesses are estimated to account for around 15% of South Korea’s entire economy.
Lee is reportedly expected to appeal the decision, and one of Lee’s lawyers told reporters that they were confident the ruling would be overturned, according to Reuters.