Head of South Korea’s Samsung Group, Jay Y. Lee, was sentenced to five years in jail for bribery, hiding assets abroad, embezzlement, concealing criminal proceeds and perjury. Lee was convicted over payments of 43bn won ($36.4m; £30.3m) made to South Korean’s former president’s confidante’s foundations, as well as for giving a horse and several million dollars to assist the equestrian career of her daughter, in anticipation of favours and government support over Samsung’s major merger restructuring.