A South Korean court on Wednesday found former Samsung Group Chairman Lee Kun-hee guilty of tax evasion and sentenced the former executive to a three-year jail sentence, according to an Associated Press report.
But Lee will not be going to jail at this point, since his prison sentence was suspended for five years. Prosecutors had been seeking a seven-year prison sentence.
Lee, however, will have to pay a fine of 110 billion won, or $109 million, as restitution for the tax evasion conviction. Prosecutors had been seeking substantially more--a fine of 350 billion won, or $347 million. Lee is the … Read more