Samsung scion guilty of $5m embezzlement and jailed for five years


The trial of Lee Jae-yong stretched over six months (Source: Getty)

Samsung scion Lee Jae-yong was this morning found guilty of embezzling more than $5m (£3.9m) by a South Korean court and sentenced to five years in prison.

The vice chairman of the tech giant admitted paying a bribe to a close friend of the country's former president Park Geun-hye but denied that he asked for any support in return. 

The court in Seoul also found the 49-year-old guilty of hiding assets abroad and perjury.

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There has been anger in South Korea during the six-month trial. The scandal saw the impeachment of Park Geun-hye.

Lee, widely known as Jay Y Lee, was effectively the head of Samsung, the world's largest smartphone manufacturer, and denied all the charges. He was facing jail of up to 12 years.

He stood accused of donating around £29m to non-profit foundations run by Choi Soon-sil, a close friend of Park, in return for political favours.

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Tags: Samsung