Prosecutors seek 12-year sentence for Samsung boss in bribery trial

  • Prosecutors seek 12-year sentence for Samsung boss in bribery trial

Prosecutors seek 12-year sentence for Samsung boss in bribery trial

Lee emerged from a Seoul court on Monday (Aug 7), where the prosecution announced it wants to see him locked up for 12 years.

Lee, the 49-year-old son of Samsung's ailing chairman, has pleaded not guilty to charges of bribery, perjury, concealing criminal profits, embezzlement and hiding assets overseas.

Lee, 49, is accused of embezzlement, perjury and concealment of assets overseas.

A panel of three judges at the Seoul Central District Court said they will hand down their verdict on August 25.

Special Prosecutor Park Young-soo, who heads the investigation, told the court: "It is a typical corruption crime stemming from a back-scratching alliance between politics and business, which has indeed compromised our constitutional values". "The defendants have colluded with power to seek personal interests, turning their backs on people's wish to shed light on the truth behind the scandal".

A Samsung spokeswoman declined to comment, but referred to the company's statement in June that the expenses were paid by chairman Lee personally and receipts were issued.

Lee is accused of supporting Samsung payments to funds controlled by former Korean president Park Geun-hye and a confidante of hers in order to secure government approval for a consolidation of Samsung subsidiaries that would cement his control of the conglomerate.

Lee and four other executives are accused of paying or promising Choi, who was handed a three-year jail term in June, more than $38m to win presidential favours and ease a controversial 2015 merger deal.

The police are investigating claims that corporate money was transferred to pay for interior decorations in the elder Lee's private home and they are expected to question company officials soon. They closed down 0.25 percent on Seoul's stock market on Monday.

It is alleged he made a large donation in exchange for government support of a merger of two Samsung subsidiaries.