Samsung’s heir Jay Y. Lee is sentenced to two and a half years in prison for bribery and embezzlement

Samsung’s heir Jay Y. Lee is sentenced to two and a half years in prison for bribery and embezzlement

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The Seoul High Court in South Korea sentenced Lee to two and a half years behind bars on Monday after finding him guilty of embezzlement and bribery. He was taken into custody after the verdict.

It is the latest turnaround in a controversy that has followed Samsung for years. Lee, also known as Jay Y. Lee, was caught in a massive influence-trafficking scandal that toppled the government of former South Korean President Park Geun-hye. Park herself is spending about two decades in prison because of the case.

Lee, however, was found guilty of bribery and other corruption charges in 2017 and sentenced to five years in prison at the time. But he was released after less than a year, when an appeals court dismissed some of the charges and suspended his sentence.

The last sentence is the result of a retrial ordered by the country’s Supreme Court.

Lee’s return to prison comes at a critical time for Samsung. Her father, Lee Kun-hee, the company’s president, died last year. The older Lee has been in a coma since he suffered a heart attack in 2014, but he remained the incumbent president of the company. His son acted as the de facto leader of Samsung.

Samsung declined to comment on the sentence, referring to a statement by Lee’s lawyers.

“This case is, in essence, a violation of the corporation’s rights to freedom and property by the former president who abused his power,” said Injae Lee, the lawyer who leads the vice president’s defense team. “I find the court’s decision regrettable.”

However, the company’s shares plunged in Seoul after the announcement. Samsung (SSNLF) shares fell nearly 3.8%.

Lee can appeal if he wants to, although it is not immediately clear whether he intends to do so.

Lee’s legal problems are not over yet, either. He faces a separate trial over a controversial 2015 merger that helped him strengthen control of the company. Eleven Samsung executives, including Lee, were indicted last year on charges that included illegal transactions, stock manipulation and perjury.

This case is still pending.

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