Samsung's heir Lee Jae-yong sentenced to 5 years in prison for bribery and corruption

Lee Jae-yong, vice chairman of Samsung and would-be heir of the tech empire, was earlier today found guilty of bribery and embezzlement, and was sentenced to 5 years in prison.

Lee was accused of wiring the equivalent of almost $40 million from Samsung subsidiaries to two foundations set up by a confidante of impeached president of South Korea Park Geun-hye.

Previous reports alleged that the money was paid out to win favor from the country's state pension fund, which supported a merger between two Samsung affiliates in 2015. This was reportedly done in a ...