Samsung Group heir Lee Jae-yongat was embroiled in a scandal that brought down the South Korean president.
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A South Korean court sentenced the billionaire chief of Samsung to five years in prison for crimes that helped topple the country's president, a stunning downfall that could freeze up decision making at a global electronics powerhouse long run like a monarchy.A panel of three judges also found Lee guilty of embezzling Samsung funds, hiding assets overseas, concealing profit from criminal acts and perjury.The court said Lee and Samsung executives who advised him caused "a big negative effect" to South Korean society and its economy.The verdict, however, could be good news for shareholders at South Korean companies who have complained about weak corporate governance that let founding families wield outsized influence and enjoy emperor-like authority even with minority ownership.Samsung has not denied transferring corporate funds.
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