History repeats itself.
Samsung Electronics
Vice Chairman Lee Jae-yong's conviction on multiple corruption charges
on Friday has brought back memories of the humiliation that has haunted
the nation's biggest business empire's owner family for three
generations.
The Seoul Central District Court
sentenced Lee, 49, to five years in prison on Friday. He was found
guilty of bribery, embezzlement, concealment of criminal proceeds,
illegal overseas asset transfer and perjury in a massive corruption
scandal that led to the ouster of former President Park Geun-hye.
The
court said Lee is believed to have been involved in Samsung's provision
of 7.2 billion won ($6.38 million) in bribes for the equestrian
training of the daughter of Park's longtime friend and confidante Choi
Soon-sil.
Lee's lawyer said he will appeal the ruling.
Since 1966
It
started in 1966 when the progenitor of Samsung, Lee Byung-chul, was
forced to step down to take responsibility for the "saccharin smuggling
scandal."
His second son was caught smuggling 50
tons of saccharin into the country as construction material. Then
President Park Chung-hee ordered an investigation and Lee faced the risk
of being prosecuted. But the street-smart businessman knew how to
survive. Lee "donated" his fertilizer plant to the government and
"voluntarily" stepped down as the firm's CEO. In return, Lee avoided
prosecution.Nearly three decades later, the specter of prosecution came to Lee's son, Kun-hee.
Lee
Kun-hee, 75, chairman of Samsung Electronics, has been in hospital
after a heart attack in May 2014. He received a suspended jail term in
1995 for paying bribes to former presidents Chun Doo-hwan and Roh
Tae-woo.
http://www.koreatimes.co.kr/www/nation/2017/08/251_235395.html
"... It is only in this way that we can hope to arrive at truth, and fulfill the great responsibility which we hold to God and our country. Should I keep back my opinions at such a time, through fear of giving offense, I should consider myself as guilty of treason towards my country, and of an act of disloyalty toward the Majesty of Heaven, which I revere above all earthly kings."....I know not what course others may take; but as for me, give me liberty or give me death!"
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