Samsung Heir Lee Jae-yong Gets Five Years in Jail

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A bribery and cronyism scandal that has already toppled a South Korean president has claimed a major business scalp after a court sentenced Lee Jae-yong, the acting chairman of Samsung, to five years in prison for crimes including offering bribes and perjury.

The billionaire,South Korea,s  third-richest man and heir to the sprawling Samsung empire, had been accused of making large donations to foundations run by a close friend and confidante of the deposed South Korean president, Park Geun-hye, in return for political favours.

The court said Lee provided bribes anticipating support from Park, who was still president at the time, according to South Korea’s Yonhap news agency.