Samsung leader Jay Y. Lee freed from prison following successful appeal


Jay Y. Lee, the Vice Chairman of Samsung Electronics, has been released from prison. Lee was serving a five-year sentence after being found guilty of bribery and embezzlement, but on February 5, the Seoul High Court overturned the initial judgment. Lee was detained for a total of 353 days, and although the court slashed his sentence in half to 2.5 years, he's free to go on four years probation.

For those unfamiliar with the story, Lee, who serves as the de facto head of Samsung Group after his father suffered a heart attack, allegedly wired the equivalent of almost $40 million from Samsung subsidiaries to two foundations set up by President Park's confidante, Choi Soon-sil. Reportedly, the money was paid out to win favor from the country's state pension fund, which supported a merger between two Samsung affiliates in 2015. The move was supposed to smooth over the father-to-son transition of Samsung's ownership, but needless to say, it backfired in a spectacular fashion.

Although Lee's imprisonment was obviously bad news for the chaebol, Samsung's short-term success didn't appear to suffer all that much as it reported record profits for 2017. With the return of such a senior figure, the company's future looks a lot safer. 

FEATURED VIDEO

10 Comments

4. iampun33t

Posts: 134; Member since: Apr 17, 2013

What are you guys talking about..?? Money IS Law..!!

13. makatijules

Posts: 835; Member since: Dec 11, 2017

Money is the root of all evil. That's why even Church's need it and they are crocked too. But it isn't money that is evil because it can serve a useful purpose. Its what can be done with money and the abuse of power that comes with it. Jay is only one example is millions of people in this same boat that is sinking. He is a disgrace and so are others like him. Shame on you Jay Lee.

5. josephnero

Posts: 777; Member since: Nov 16, 2011

I wouldn't be surprised if some rich guy been pardoned even for murder

11. worldpeace

Posts: 3106; Member since: Apr 15, 2016

Most likely rich guy will pay some peoples to do that.. (with extra fee in case they get caught, they should plead guilty to cover it)

14. makatijules

Posts: 835; Member since: Dec 11, 2017

They have been! In fact they don't even get arrested.

9. Subie

Posts: 2324; Member since: Aug 01, 2015

Anyone who thought this man would serve his full sentence please stand up...

10. iushnt

Posts: 3083; Member since: Feb 06, 2013

I knew he would be freed soon.

15. makatijules

Posts: 835; Member since: Dec 11, 2017

Well since they didn't arrest both parties, I don;t think e should have went. He didn't do this illegal thing by himself. Why isn't the other party in prison too? Which is probably what he argued. Gonna go Google the details and see what important part PA left out.

12. makatijules

Posts: 835; Member since: Dec 11, 2017

Although Lee's imprisonment was obviously bad news for the chaebol, Samsung's short-term success didn't appear to suffer all that much as it reported record profits for 2017. With the return of such a senior figure, the company's future looks a lot safer. Criminal acts by a CEO's or company Presidents, doesn't mean everything under the company should suffer. Sales or otherwise. Because Bill Gates, Steve Jobs, the CEO if Intel and many other companies have ALL done illegal and shady things including paying off politicians and judges even if we aren't privy to the facts. Because Apple lost its court case against Samsung in every country except the USA. So it is obvious Apple has the California court on its bank books. All corporation are evil, not because of the product they sell, because of the people that run them. Any person put into a position for power will abuse it. But it seems on PA, only Samsung gets called out for it. Samsung was bashed because they white-listed bench-marking apps and made the CPU run at full clock. But Apple slowing phones for sales, was barely even mentioned. I want to see what he appealed. Even if he paid someone for this which is wrong, my issue is both parties committed the crime and thus both parties should be punished. To only punish this guy and not the one the deal was done with was wrong.

16. makatijules

Posts: 835; Member since: Dec 11, 2017

If you go an look at the facts in the case, he President Park Geun-hye, "Prosecutors had accused Park of being an accomplice in a case involving her close friend Choi Soon-sil, who was charged with forcing businesses into donating money to foundations under Park’s control." You think President's of the States or any country haven't been involve in similar tactic? We have had Governors accused and charged with doing similar things. Wrong is wrong and that President was ousted from her position. But you are begin ordered to donate money, from the highest power of your country. Revilting can have serious consequences. It's like int he military when you are given an order, you basically have to follow even if they are asking you to do wrong things and questioning authority could lead top your death or locked up for some BS as your punishment. So in Jay's defense to a point, he probably had no choice, Hwoever, he should have revolted and simply became a whistle blower, knowing the President would come under fire. It turns out most of the involve party's were punished which is good. Teh President was ousted, the other woman was also charged and jailed and so was Jay. So they all got what they deserved. Hopefully he learned a lesson. But the Prosecutors claiming he got his job as head of Samsung for the donation was a lie. He got the job because his father could no longer do the job do to his sustained illness and he shouldn't have have been charged for that lie. Another case of Prosecutors over-stepping their bounds for a conviction. Just like they do in the US. I'm all for punishment, but it has to be based on facts at hand and fair according to the crime committed.

Latest Stories

This copy is for your personal, non-commercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers at https://www.parsintl.com/phonearena or use the Reprints & Permissions tool that appears at the bottom of each web page. Visit https://www.parsintl.com/ for samples and additional information.