South Korean prosecutors said in their closing arguments Monday they want a 12-year prison sentence for Samsung chief Lee Jae-yong on corruption charges related to the political scandal that led to the impeachment and dismissal of former South Korean President Park Geun-hye.
Prosecutors say Lee gave millions of dollars to two dubious non-profit foundations run by Choi Soon-sil, a close friend of President Park, in exchange for a favorable decision by the National Pension Service on the merger of two Samsung affiliates, despite a probable loss of more than $100 million. The merger would have eased Lee's path to take over control of the entire conglomerate from his ailing father.
Lee has denied any wrongdoing.
The verdict is expected later this month.
Read More Prosecutors Seek 12-Year Sentence for Samsung Chief : http://ift.tt/2uguqSC
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