A court in South Korea has found Lee Jae-yong, the vice-chairman and de facto head of the country’s largest company, Samsung, guilty of corruption in a watershed moment for the east Asian nation as it seeks to roll back the excesses of its mighty conglomerates.
Mr Lee, arguably South Korea’s most powerful man, was sentenced to five years in jail after being convicted of a string of crimes, including bribery, embezzlement and perjury, in a case that had been dubbed the “trial of the century”.
The verdict on Mr Lee, heir to the Samsung crown, could prove a damaging blow to the company’s global reputation and long-term strategy.
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