Samsung Group heir-apparent Lee Jae Yong was on Friday sentenced to five years in jail by a South Korean court that found him guilty of bribery and other charges linked to the corruption scandal that brought down former President Park Geun Hye.

The verdict against Lee, the 49-year-old vice chairman of Samsung Electronics Co., is likely to deal a severe blow to the reputation of the nation's largest business group.

It is also expected to directly impact the ongoing trials of Park and her close friend Choi Soon Sil, who are alleged to have received bribes from Lee.

Prosecutors sought a 12-year sentence against Lee on charges of giving Park and Choi bribes worth 43.3 billion won (around $38 million).

Lee has steadfastly maintained his innocence and is expected to appeal the decision.

In handing down the verdict, the Seoul Central District Court said Lee was involved in Samsung's provision of 7.2 billion won in bribes for the equestrian training of Choi's daughter.

Lee faced five charges: bribery, embezzlement, illegally transferring assets overseas, concealing criminal proceeds and perjury.

"The core point of this case is the immoral collusion of the political power and the capital power," the court said in a statement.

The court said Lee and Samsung executives offered considerable bribes to the president in the hope of receiving favorable treatment in the process of elevating Lee to the group's leadership.

"Such a process caused criminal acts of embezzlement, hiding assets abroad and concealment of criminal proceeds," it said.

The court also criticized the defendants for causing people to lose trust in the Samsung Group over the corruption case because the case showed that collusion between big business and government is not a thing of the past.

Lee, who was arrested and indicted in February, has effectively led the Samsung Group since his father, Chairman Lee Kun Hee, suffered a heart attack in May 2014.

After the court session, a Samsung defense lawyer told reporters that the defense team cannot accept any part of the verdict and voiced confidence that his client would be cleared by a higher court.

During his trial, Lee admitted to having made contributions but claimed the money was not intended as a favor and that he was coerced by Park and Choi.

During the final hearing of his trial in early August, Lee said he did not seek any favors from the president for his own benefit.

Lee's defense counsel said during the trial that the evidence against him is circumstantial and that there is no direct evidence to prove the funding was in exchange for business favors.