Prosecutors ask court to imprison Samsung heir for 12 years | Business – Alabama News

Prosecutors ask court to imprison Samsung heir for 12 years | Business – Alabama News

SEOUL, South Korea (AP) — South Korean prosecutors have recommended a 12-year jail term for Lee Jae-yong, 49-year-old billionaire heir of the Samsung business empire, urging a court to convict him of bribery and other crimes.

Lee, vice chairman of Samsung Electronics, became emotional Monday as he denied ever trying to seek political favors in his final remarks in the four-month-long trial. Lee was arrested in February amid a tumultuous corruption scandal that triggered months of massive public protests and culminated with the ouster of South Korea’s president.

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

Lee, princeling of South Korea’s richest family and its biggest company, choked up during his final remarks, saying his ordeal was unjust but he had reflected during his six months in jail and realized that the bigger Samsung became, “the stricter and higher the expectations from the public and the society,” a pool report from Monday’s hearing said.

“Whether it was for my personal profit or for myself, I have never asked the president for any favors,” he told the court.

In his remarks wrapping up the trial, Special Prosecutor Park Young Soo said Samsung’s alleged bribery was typical of the corrupt and cozy ties between the South Korea’s government and big businesses. Such dealings once helped fuel the country’s rapid industrialization but now increasingly are viewed as illegal and unfair.

Park also accused Samsung officials of lying in their testimonies to protect Lee.

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