Samsung Leader Jay Y. Lee Granted Parole, To Leave Prison On Friday (reuters.com) 26
Samsung vice chairman Jay Y. Lee, in jail after convictions for bribery, embezzlement and other charges, has qualified for parole and is expected to leave prison this Friday, South Korea's justice ministry said. Reuters reports: "The decision to grant Samsung Electronics vice chairman Jay Y. Lee parole was the result of a comprehensive review of various factors such as public sentiment and good behavior during detention," the ministry said in a statement on Monday.
Convicted of bribing a friend of former President Park Geun-hye, Lee, 53, has served 18 months of a revised 30 month sentence. He initially served one year of a five-year sentence from August 2017 which was later suspended. That court decision was then overturned and while the sentence was shortened, he was sent back to jail in January this year. Lee still needs the Justice Minister to approve his return to work as the law bars persons with certain convictions from working for companies related to those convictions for five years. He is likely to get that, legal experts say, due to circumstances such as the amount deemed embezzled having been repaid. The Federation of Korean Industries, a big business lobby, welcomed the decision, adding: "If the investment clock, currently at standstill, is not wound up quickly, we could lag behind global companies such as Intel and TSMC and lose the Korean economy's bread and butter at a moment's notice."
Convicted of bribing a friend of former President Park Geun-hye, Lee, 53, has served 18 months of a revised 30 month sentence. He initially served one year of a five-year sentence from August 2017 which was later suspended. That court decision was then overturned and while the sentence was shortened, he was sent back to jail in January this year. Lee still needs the Justice Minister to approve his return to work as the law bars persons with certain convictions from working for companies related to those convictions for five years. He is likely to get that, legal experts say, due to circumstances such as the amount deemed embezzled having been repaid. The Federation of Korean Industries, a big business lobby, welcomed the decision, adding: "If the investment clock, currently at standstill, is not wound up quickly, we could lag behind global companies such as Intel and TSMC and lose the Korean economy's bread and butter at a moment's notice."
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Anonymous Coward, that name sounds familiar.
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Somehow I think the Dr. John most of us remember would say you were in the right place, but it must have been the wrong time.
RIP, MALCOLM John Rebbenack, Jr. Yes,, the real Dr. Johns was not an actual doctor and his name was Malcolm but he finally cured his in-se-cu-rit-ee.
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It's pretty bad when the only streetcorner you can stand on to tell people about your stupid batshit idea for a... not even a movie, your fantasy only made it to TV show.
What happened, did the winos kick your ass when you wouldn't shut up on the real streetcorner, so you ended up here?
says a lot about (Score:4, Insightful)
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Korea is one of the most patriarchal societies on the planet, so wouldn't a "patriarchal mind" be one that's well equipped to understand what's happening in a patriarchal society?
If you're so incredibly smart, please explain to us smooth brains what exactly is going on here. All you've said so far (amongst your various childish insults) is that he's very important, but you've offered no explanation as to what that has to do with anything. So the question remains: why does this one man being in jail hold the
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If you're so incredibly smart, please explain to us smooth brains what exactly is going on here.
I'll wait for somebody who isn't a jerk so self-conscious he needs passive-aggressive insults to people with disabilities to be curious. And then instead of "hurr durr" they'll also have a good question. It isn't that hard to tell a good, honest question from a self-righteous prick, regardless of their IQ.
You could also just re-read what I said, find the word "shareholder," and look up what the big word means, and then spend half an hour meditating on the various social powers that such a person might have
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Again, more insults and no answers. I am asking what I consider to be a good, honest question. Let me rephrase:
Is there something in Samsung's bylaws that allows board members that are currently imprisoned, who have been convicted of "bribery, embezzlement and other charges" to bring normal operations to a standstill just because they hold a large number of shares? Wouldn't there be a proxy vote for someone like this? Why is he allowed to continue to hold those shares in the first place?
And since you threw
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I assumed that he would be subject to asset forfeiture, or that large corporations would have a way to claw back shares from board members convicted of those kinds of crimes. I guess I'm just shocked that one can be so brazen, do so much damage, be a convicted criminal for crimes against your own company, and yet remain a board member and major shareholder.
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Apparently, you feel that only a VIP from a major corp is qualified to judge another VIP from a major corp. And since I'm not a CEO, um, apparently I shouldn't judge? Is that what makes me.. patriarchal? Wut?
So, I'm not sure, but maybe you're insinuating that I
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Too bad we don't have an example of a very large american tech company having its figurehead CEO die of cancer or something so we can check if they were still able to compete afterwards.
Maybe this one? [google.com]
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Being dead isn't the same as being alive.
I wonder if you knew that?
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If dead people can run a company its news to me.
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No, it isn't news to you. You can't tell the difference. See above!
Wow, you were pretty far from comprehending the point to have been replying. LOL
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Well, it looks like you insulted the guy you replied to when he expressed his opinion that its pathetic for a Korean business lobby to believe the great man theory.
And then you said something about American companies, and I provided an example that pretty easily disproves the great man theory for US based companies.
Make no mistake, belief in the great man theory to the point where it paralyzes your investment strategy -is- pathetic.
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I'm a BIG fan South Korea, but that's... actually pretty pathetic.
I'm a bit more charitable, I'll just call it artistic license.
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Well, when you watched his channel you chortled and had a good time doing it. This guy is rich, though, he doesn't need anything to chortle at; he's can satisfy all his whims.
I look at this way; Creimer's channel isn't the first thing on my watchlist. But at least he has a few superfans, like you.
His report on the Gilroy Garlic Massacre was pretty good.
Do it Biden Style (Score:2, Insightful)
Yeah, but... (Score:1)
It's Friday the 13th!
Looking forward to the next article (Score:2)
...when he is smuggled out of the country in a box to Lebanon, as it is customary for leaders of Asian companies.