Samsung VC Jay Y Lee Released from Prison Following the Bribery Scandal

Despite of high profits, everything was not smooth for Samsung in 2017. August 2017 was the most difficult time of Samsung when they were accused of selling phones with exploding and draining batteries. In August the hair, Lee Jae-young was sentenced to five years in prison on bribery charges. Lee faced longest-ever jail imprisonment in South Korean history being a voice president of a tech company. Samsung VC Jay Y Lee Released from Prison Following the Bribery Scandal.

He was accused of giving around $36 million to the adviser of President in order to win Korean Government support in his company favor for a merger between two Samsung subsidiaries.

Samsung VC Jay Y Lee Released from Prison Following the Bribery Scandal

Lee had been caught on the basis of corruption charges in March, 2017 that he offered bribe to former Korean President Park Geun-hye to help him while acquiring a tech company in Korean.

However Samsung has a good news! Lee was released on Monday as Seoul High Court reduced his Five year sentence to just two and a half year. Over all Lee spent just 353 days in prison.

Youhap News revealed that court has put the latest primary blame on former president Park Geun-hye and her friend Choi Soon-sil.

Lee’s lawyer said in a statement that:

We respect the court’s courage and wisdom to have delivered a not-guilty verdict for our client over the key charges.“Yet we will do our best in the next court proceeding to have the remaining charges cleared

Lets see whether Lee will regain his position in Samsung or he will have to move on with this bribery claims all his life.

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Fizza Atique

Fizza Atique is a Tech writer specializing in the intersection of tech and culture. She likes photography, VR, electronic music, coffee, and baking.

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