Samsung Electronics Vice Chairman Jay Y. Lee fought back tears and denied wrongdoing on Monday as prosecutors sought a 12-year jail term on charges that include bribing the former president to help cement control of the South Korean tech giant.
Lee, the de facto leader of one of Asia's largest conglomerates, has been in detention since February on trial for charges ranging from embezzlement to perjury, in a scandal that gripped the country for months and led to the ouster of former president Park Geun-hye.
He will face the longest prison term on record for a South Korean conglomerate executive if the court finds him guilty when it makes a ruling Aug. 25, two days before Lee's current period of detention ends.
Other charges he faces include wrongfully transferring assets overseas and hiding the proceeds of a crime.
"I have never asked anyone, including the president, for anything for the company or my personal gain," said Lee in a final statement, his voice wavering. He stopped several times during his speech, holding back tears.
"I deeply regret that I have given such disappointment and apologize," he said.
Samsung Electronics offered no comment regarding the prosecutors' demand. The company's shares ended down 0.3 percent on Monday, erasing minimal gains seen early in the session.
The prosecution has said Samsung's intent in paying up for two funds backed by Park, and sponsoring the equestrian career of the daughter of a confidante at the center of the scandal, was to get government support for efforts to cement Lee's control of the smartphones-to-biopharmaceuticals empire.
"Even though Lee is the ultimate receiver of the gains (from this bribery case), he has been pushing the blame on others accused," prosecutor Park Young-soo told the court.
Park also sought jail terms for other Samsung executives related to the case, including 10 years for Choi Gee-sung, former head of Samsung's corporate strategy office.
The defense reiterated Lee's denial of wrongdoing, questioning whether the prosecution was relying on public sentiment to secure a prison term for Lee, 49, whose father, the group patriarch Lee Kun-hee, was hospitalized in 2014.
He has not been seen in public since.
Jay Y. Lee's lawyers argued that his so-called overarching intention of cementing ownership control was "a fictional construct" made up by prosecutors, with moves such as the merger of two Samsung affiliates in 2015 aimed merely at ensuring survival and growth of individual companies.
In Lee's absence, Samsung Electronics reported record quarterly earnings in late July.
Samsung Electronics investors have said their chief interest in the trial has been how long Lee will stay in detention, sidelined from fully participating in large-scale decision-making.
"It (Samsung Electronics) is doing well now, but will his absence show up in its performance two, three, five years from now? That's the question," said Park Jung-hoon, fund manager at HDC Asset Management.
Reuters
Mon Aug 07 2017
Lee Jae-yong, vice chairman of Samsung Electronics Co., arrives for his trial at the Seoul Central District Court in Seoul, South Korea August 7, 2017. REUTERS/Ahn Young-joon/Pool
5.9 bilion tontonan di TikTok Malaysia direkodkan sepanjang Ramadan, awal Raya
Tiktok Shop dilihat berkembang menjadi tumpuan ramai pengguna untuk membeli barangan, kerana ia turut digayakan dan didemonstrasikan.
Hafizul didakwa cuba bunuh Farah Cie, cederakan pengawal peribadi
Hafizul, 38, mengaku tidak bersalah selepas semua pertuduhan dibacakan terhadapnya di hadapan Hakim.
AWANI Pagi: Khunsa: Merungkai Isu Taboo Menerusi Drama
Khunsa, perihal yang tidak dibincangkan secara terbuka dalam masyarakat. Namun keberanian memaparkan isu ini dalam drama Khunsa, membuka perspektif baharu mengenainya.
Ikuti kupasannya bersama Pengarah, Shahrulezad Mohammeddin dan dua pelakon utama, Azhan Rani serta Nadia Aqilah dalam #AWANIpagi
Ikuti kupasannya bersama Pengarah, Shahrulezad Mohammeddin dan dua pelakon utama, Azhan Rani serta Nadia Aqilah dalam #AWANIpagi
Haiwan peliharaan, terbiar juga boleh diserang strok haba
Bahang cuaca panas lazimnya memberi kesan kepada anjing, kucing dan arnab.
Threads kini mempunyai lebih 150 juta pengguna bulanan
Pengguna telah mula lebih bergiat berkongsi melalui Threads, dan ada yang telah mula hanya menggunakan Threads semata menggantikan Twitter.
Freedom Flotilla to Gaza: Ketegasan Malaysia sekat kapal Israel wajar dicontohi
Walaupun usaha itu dilihat kecil namun ia mampu memberi tekanan kepada rejim Zionis dan menjadi contoh kepada komuniti global.
Juruterbang bomba dihantar ke UAE jalani latihan tambahan secara simulasi
JBPM telah diberikan peruntukan sebanyak RM800,000 untuk menghantar kesemua 17 juruterbang ke negara terbabit.
Lebih 14,000 aduan diterima menerusi aplikasi MYJalan setakat ini - Ahmad Maslan
KKR juga telah menyelesaikan 86 peratus daripada 3,766 aduan diterima menerusi aplikasi itu setakat ini.
AWANI Pagi: Apa Erti Sebenar Cakna Autisme?
Bulan Kesedaran Autisme disambut setiap tahun pada bulan April, untuk meningkatkan kesedaran umum berkenaan diagnosis tersebut. Sejauh mana cakna masyarakat mengenai autisme setakat ini? Ikuti diskusinya dalam Awani Pagi 7.30 pagi Khamis bersama Afiezy Azaman & Azib Zikry.
KPT salur bantuan pendidikan, pengecualian yuran IPT anak mangsa nahas helikopter
KPT melalui PTPTN akan menyalurkan sebanyak RM1,000 seorang kepada 21 anak mangsa nahas dua helikopter yang terhempas di Lumut.
COVID-19: Over 100 individuals in Penang undergo test
Most of them were tested negative for the disease while others are still waiting for the results, Penang Chief Minister said.
Pusat dobi layan diri tidak dibenarkan beroperasi
Turut tidak dibenarkan beroperasi, pasar malam dan pasar tani sepanjang Perintah Kawalan Pergerakan bagi mengelakkan orang ramai berkumpul
Do postponements cause delays in the Courts?
Cases may often be postponed or otherwise delayed for various reasons. The truth of the matter is that these delays may be necessary due to the Rule of law and due process.
Guilty until proven innocent; a devastatingly prevalent myth
While it is natural for us to be presumptuous, to place our version of the truth ahead of the law's is just purely juvenile. Lawyer Alan Razak writes.
"I feel guilty, I want to see Imam," kata lelaki yang tampar Imam
Demikian kata-kata Shabir Ahmad Khan, 31, lelaki warganegara India yang menampar imam Masjid Negara semasa solat Jumaat di masjid itu dua minggu lalu.
Mahkamah benarkan wanita batal saman bekas kekasih Bosnia
Hakim Timothy Finlayson Joel dalam keputusannya turut menolak tuntutan balas oleh Chung Shun Yee, 29, terhadap Ervin Ahbabovic, 41.