【Chilli and Banana】

The Chilli and Bananabillionaire head of Samsung has on Friday been sentenced to five years in prison.

A court in South Korea found Lee Jae-yong guilty of bribery, a verdict that could prove damaging to the company's global reputation.

SEE ALSO: Samsung's turmoil derails plan to crown its heir apparent

Lee, who is vice chairman of the Samsung Group, has for months been embroiled in a corruption scandal that has gripped South Korea.

The only son of Samsung Chairman Lee Kun-hee, South Korea's richest man, the younger Lee has been detained since February, on accusations of donating up to $38 million to various organisations at the request of former South Korean president Park Geun-hye, in return for political favours.

Jay Lee, in 2013. Credit: Getty Images

The 49-year-old has denied all wrongdoing, and his lawyer has said that they will appeal against the decision.

"The entire verdict is unacceptable," said Song Wu-cheol, one of his lawyers.

Mashable Light Speed Want more out-of-this world tech, space and science stories? Sign up for Mashable's weekly Light Speed newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

Prosecutors had earlier demanded a 12-year jail term for Lee, who was also accused of embezzlement, hiding assets overseas, concealment of criminal proceeds and perjury.

Samsung shares fell by 1.5 percent following the verdict.

But the trial is not only significant to the mobile giant.

The guilty verdict is closely linked to former President Park, who has now been removed from office. She was earlier charged with abuse of power and coercion by pressuring big businesses to contribute to non-profit foundations.

She was also charged with taking bribes from Lee in exchange for supporting his succession -- something she has all along denied.

South Korean ousted leader Park Geun-hye arrives at a court in Seoul on August 25, 2017. Credit: AFP/Getty Images

The corruption scandal has also resulted in the conviction of another close associate of Park's, Choi Soon-sil, who was sentenced to three years in jail in June.

Via her friendship with Park, Choi was found guilty of meddling in state affairs, as well as wielding influence over large conglomerates in the country.

The ruling on Park, South Korea’s first female president, is expected in October.

---

Featured Video For You

---

Samsung turned the Galaxy Note 8 launch into an Apple roast with these zingers

---

Topics Samsung Politics

• Life
• Science
• Social Good
• Tech
• Deals
• Entertainment
• Shopping
• Games

• The fat bears are already extremely fat
• ESPN's AI
• How adult performers feel about Trump, Harris, and Project 2025
• iPhone 16 Pro, iPhone 16 Pro Max launched at Apple 'Glowtime' event
• Best keyboard deals: Save on Asus gaming keyboards at Amazon
• England vs. Finland 2024 livestream: Watch UEFA Nations League for free
• The new all
• Apple Watch 10: Did Apple just accidentally leak it in iOS 18?
• How to Settle Down with Dystopia
• Best free online courses from Stanford University

• KFC moves to introduce 3D
• Wordle today: Here's the answer and hints for May 9
• Thomas Sayers Ellis’s “Or,” by Robyn Creswell
• Mistaken Identity by Jenny Hendrix
• The Epigraph by David Parker
• 'Quordle' today: See each 'Quordle' answer and hints for May 9
• WSJ report on user 'clusters' reveals how unsettling TikTok's data collection can be
• Sir Ian McKellen recorded a very sweet video for Sir Patrick Stewart's 80th birthday
• Document: Happy Birthday, James Joyce by Sarah Funke Butler
• Satanic Seduction; Dufus Casanovas by Lorin Stein

• The Anatomy of Liberal Melancholy
• Shop the best Apple AirPods deals this week.
• Apple Watch 10: Did Apple just accidentally leak it in iOS 18?
• Save up to $1,000 on a new TV during Best Buy's NFL kickoff sale
• Best iPad deal: Save $132 on Apple iPad (10th Gen)
• England vs. Australia 2024 livestream: Watch live T20 cricket for free
• How adult performers feel about Trump, Harris, and Project 2025
• iPhone 16 Pro Max vs. iPhone 15 Pro Max: What are the differences?
• The Sound and the “Furious”
• Social media is laughing at how expensive the PS5 Pro is

• The best day to book your flight, according to Google
• Apple Watch 10 rumors: Everything we know so far
• Dallas Wings vs. Chicago Sky 2024 livestream: Watch live WNBA
• NYT mini crossword answers for September 9
• What cracked the Milky Way's giant cosmic bone? Scientists think they know.
• Meta updates WhatsApp and Messenger third
• Save up to $1,000 on a new TV during Best Buy's NFL kickoff sale
• People are using the R
• NYT Strands hints, answers for May 5
• AirPods 4 announced – here's everything you need to know