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Saturday, August 26, 2017

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Samsung Corruption Scandal-Verdict Announced

Verdict has been announced for samsung corruption scandal of heir Lee Jae-yong.

Samsung Corruption Scandal News
One of the biggest business scandals shook Seoul when the leader of Samsung was caught red-handed shortly after the former president of South Korea was arrested. The two cases do have clear connection which caused outrage among Asia’s business community and shareholders of the company. Samsung has remained a powerful contender for the top spot among electronics and personal device manufacturers for decades. Since Android is more popular than iOS in Asia and Samsung mobiles operated via Android, it was very powerful in the smartphone industry as well.

Justice has been rightly served making the criminals an example for those who think they can get away with corruption. The court found the former Samsung leader guilty of paying bribes to the former president in hopes of having things go in his favor. Official investigation also revealed that he had concealed assets overseas after embezzling funds from the company. There were many such assets which will not be dealt with fairly. In addition, he has further lost credibility among the business community and the legal system of South Korea by lying under oath.

The court has sentenced him to five years imprisonment. However, the defendant plans to file an appeal for this decision and has not accepted any of the charges leveled against him according to his lawyers. They are keeping a positive outlook even though most of the public is not on their side. They have expressed their faith in the overturn of this decision in the near future. There are several who are unhappy with the court’s decision, support the former Samsung leader and have protested against the outcome of this case. They have stressed on the importance of companies like Samsung that have contributed considerably to the growth of South Korea’s economy even going as far to say that they have saved it from crisis in the past. Meanwhile, others have applauded the court’s decision and criticized the former Samsung leader.


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