Seoul Aug 24 (IANS) Lee Jae-yong the de facto head of Samsung was on Thursday preparing to face a verdict in his corruption trial which could mean imprisonment and leave South Korea s conglomerate without a leader.
The Seoul Central District Court will deliver its verdict in the case on Friday.
The prosecution is asking for a 12-year prison sentence for Lee s alleged role in the so-called "Rasputin" corruption case which led to the impeachment and imprisonment of former South Korean President Park Geun-hye Efe news reported. Lee has so far pleaded not guilty in the case.
Samsung group which accounts for 20 per cent of the country s GDP has been led by Lee since 2014 after his father Lee Kun-hee suffered a heart attack.
Lee is accused of transferring 43 billion won ($37.3 million) to foundations that were controlled by Choi Soon-sil dubbed the "South Korean Rasputin" for her close friendship with Park Geun-hye.
The payments were allegedly made to secure approval from a public pension fund in 2015 for the merger of two Samsung subsidiaries (one of which was part of the same fund) that reinforced the Lee family s total control of the company.
--IANS
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