Samsung’s embattled Jay Y. Lee has not had a straightforward time of it over the previous couple of years. He is been out and in of courtroom and jail because of a bribery scandal that rocked Korea and led to the impeachment of President Park Geun-hye courting again to 2015. Now, the vice-chairman of the largest firm in Korea is dealing with repercussions once more after admitting to receiving remedies with the sedative propofol – an unlawful drug in Korea. His confession comes simply two months after he was launched from jail.
To recap Lee’s revolving door relationship with Korean prisons, we now have to return to the bribery scandal involving $36 million in bribes paid to a buddy of the impeached president of South Korea. The bribes had been paid to make sure the federal government would again a merger of two Samsung associates.
Lee was indicted on these expenses in 2017. He was sentenced to 5 years in jail however after a month he was launched and his sentence was suspended. Nevertheless, the Supreme Courtroom of South Korea overturned the suspension and held a retrial of the entire case.
On January 21, 2021, Lee was sentenced to 2 years and 6 months in jail. He served a part of his sentence on the Seoul Detention Heart whereas he awaited the outcomes of a retrial on the unique expenses. Prosecutors alleged that Lee paid the bribes partially to make his path to changing into chairman of Samsung simpler. Lee has been operating Samsung since 2014. His father, Lee Kun-hee was the chairman of Samsung from 1987 to 2014, when a coronary heart assault incapacitated him. He died in 2020.
On October 26, 2021, Lee was convicted on unlawful drug expenses and fined $60,000.
With a net worth of $11 billion, Lee can properly afford each positive levied at him. And Samsung’s dominance, not simply globally, however in South Korea particularly, assure he will not be going broke –regardless of what number of occasions he goes again to jail.