BRIBERY SCANDAL: Jailed Samsung heir appeals 5-yr sentence

Lee Jae-yong leaves the Seoul Central District Court in Seoul. – AFP

Samsung has not denied transferring funds.

Samsung Electronics vice chairman Jay Y. Lee's defense lawyer has filed to appeal against a five-year jail term for bribery handed down by a lower court, the Seoul Central District Court's website has said.

Chaebol under pressureThe families who control South Korea's big conglomerates, known as chaebol, were lionised a generation ago for helping to turn South Korea into a manufacturing powerhouse put public tolerance for double standards that put them above the law has been rapidly diminishing.

Samsung's lawyers said Friday that they would appeal against the verdict.

The brief memo from Mr. Kwon was the first companywide message since Mr.

Lee joined the Samsung Electronics board in October 2016 around the time of the launch of the company's Galaxy Note 7 smartphone model that continually caught fire and resulted in a subsequent termination of the model. NAND chips are memory chips that dictate the amount of data that can be stored in digital devices.

Lee, in a navy blue suit and white shirt, occasionally applied lip balm and kept a cool facial expression, which didn't change as the verdict was announced, according to South Korea's Yonhap News Agency.

In 2015, US hedge fund Elliot Management filed for an injunction against the merger of two Samsung units created to cement a power transfer to the heir apparent of Samsung Group from his ailing father Lee Kun-hee, who has been bedridden since May 2014 due to a heart attack.

Buckingham Palace in lockdown after alleged attack on police
Sky's Home Affairs Correspondent Mark White said: 'We have seen incidents unfold outside Buckingham Palace in the past. A Reuters witness near the scene said police had cordoned off a wide area around the palace for security.

Monday's announcement seemed created to send a sign that the company will continue to conduct business as usual despite Mr.

The court in Seoul found Lee hoped that bribes to then-president Park Geun-hye and a close friend would secure support for a merger that strengthened his control over the Samsung empire and its flagship Samsung Electronics business.

The decision will test whether Samsung can succeed without the crown prince of the Lee family at the helm.

Along with bribery, Mr.

Lee Jae-yong was also found guilty by a panel of three judges of embezzlement, hiding assets overseas, concealing profits from criminal acts and perjury. He has been detained in the same facility where he was held under custody since February while undergoing trial. The trials are now being carried out separately, but given that these charges are two sides of the same coin, the judges assigned to the Park case can't help but take this judgement into consideration.

Investors reacted negatively to Mr.

Last year, Elliot, which owns a 0.62-percent stake in the Korean chipmaker, called on Samsung Electronics to split itself into two units - a holding company and an operating firm - and list the latter on the tech-heavy NASDAQ market. Shares in other Samsung affiliates seen as key pieces of Mr.

Related news:

Hot News

isis-killer-beheading-video-story-top So-called honesty app Sarahah being used to bully peers
Aug 29, 2017 - 00:18
For users who are anxious about their privacy on Sarahah , you can go to the Sarahah website and remove your account from the app. This essentially means that the company is collecting data from users for a new feature which doesn't even exists as of today.

US Open Tennis Preview
Aug 28, 2017 - 00:38
Two years before that, at 17, Sharapova won her first major title at Wimbledon . The British No 1 is in the same quarter of the draw as Sharapova or Halep.

isis-killer-beheading-video-story-top National Football League notes: Browns pick Kizer as starting QB
Aug 28, 2017 - 00:37
Kizer had been splitting reps with the No. 1 unit in practice since June but entered training camp third in the quarterback order. He has to earn a right from (the veterans). "I think, in general, the whole defense feels better and more comfortable".

isis-killer-beheading-video-story-top England v Windies: Watch pick of second day's action at Headingley
Aug 27, 2017 - 00:23
Stokes was dropped on 98 before moving to his sixth Test hundred and being dismissed by Gabriel without adding to his century. West Indies' Darren Sammy and South Africa pair Hashim Amla and Morne Morkel are also in the squad.

isis-killer-beheading-video-story-top THIS is why you might recognise Taylor Swift's new song :o
Aug 26, 2017 - 01:07
The new song, " Look What You Made Me Do ", makes it clear that Swift is out for revenge. Half seem to applaud her for this major, sassy clap-back at Kanye.

isis-killer-beheading-video-story-top Game of Thrones season 7 finale synopsis: The Dragon and the Wolf
Aug 26, 2017 - 01:05
Latest reports about " Game of Thrones " confirmed that its Season 7 Finale's title was already revealed by none other than HBO . Joanna Robinson of Vanity Fair feels there's more to the title of Episode 7, " The Dragon and the Wolf ", than meets the eye.

isis-killer-beheading-video-story-top Xbox Games with Gold for September 2017 confirmed
Aug 25, 2017 - 00:39
Hydro Thunder Hurricane puts players in the driving seat of a powerful speedboat and get racing through some unusual situations. As you may know, Oxenfree is a supernatural mystery graphic adventure game that hit in 2016 from developer Night School Studio.

isis-killer-beheading-video-story-top Star Wars: The Last Jedi: Two New First Order Vehicles Revealed
Aug 25, 2017 - 00:37
In many ways, Force Friday is something of an unofficial holiday, meaning Lucasfilm has much more planned than just new toys. The Resistance will have to go up against the First Order's more unsafe AT-ATs and warships in The Last Jedi .

isis-killer-beheading-video-story-top Toddler climbs around set of live ITV interview
Aug 24, 2017 - 01:26
As he continued to try and get through the interview, Iris ran around the studio - starting to jump up in front of the cameras. Viewers were delighted by Iris' behaviour. "You just carry on there".

isis-killer-beheading-video-story-top Odell Beckham leaves game with ankle injury, collapses outside locker room
Aug 24, 2017 - 00:57
I'm not really the judge", Beckham said. "I think you have to play the game to get better at the game", McAdoo said. One of the NFL's most dynamic receivers, Beckham underwent an MRI exam Tuesday. "I don't know.

isis-killer-beheading-video-story-top Barcelona files legal suit against Neymar for breach of contract
Aug 23, 2017 - 00:35
I am getting better physically and I can still improve yet", the 25-year-old said. "I feel very happy and relaxed, I feel at home. Barcelona are to sue Paris Saint-Germain forward Neymar as he failed to honour the long-term contract that he signed past year .

isis-killer-beheading-video-story-top Patriots gave Trump Super Bowl ring as thank you gift
Aug 23, 2017 - 00:34
Donald Trump isn't doing much winning, but that didn't stop Patriots owner Robert Kraft from treating him like a champion. Trump now joins Vladimir Putin in world leaders who have Patriots Super Bowl Championship rings.

isis-killer-beheading-video-story-top S.Korea, US begin talks over reviewing trade deal
Aug 23, 2017 - 00:34
South Korea is the US' seventh-largest trading partner, while the US is South Korea's second-biggest partner after China. The U.S. beef industry has seen its market share in South Korea increase and it doesn't support a change in terms.

isis-killer-beheading-video-story-top Police Seize Yuuuge Stash Of Donald Trump-Shaped Ecstasy Pills
Aug 23, 2017 - 00:34
During a random traffic stop, police officers in Osnabruck discovered a stash of Trump-shaped ecstasy pills from a van. Dutch-made Donald Trump pills have been showing up for some time on the United Kingdom market, according to reports .

isis-killer-beheading-video-story-top From Taylor Swift, another snake
Aug 23, 2017 - 00:30
The snake imagery could be Swift taking a jab at the snake label she has been given in recent years, notably by Kim Kardashian . The star deleted her Twitter and Facebook avatar picture and header, while also deleting her posts on Tumblr and Instagram.