Samsung Leader Was Arrested over South Korean Corruption Scandal
https://sp-security.blogspot.com/2017/02/samsung-leader-was-arrested-over-south_24.html
Vice-president
of Samsung has been arrested over the corruption and influence-peddling
scandal, which could topple the impeached president of South Korea,
Park Geun-hye. Prosecutors accuse 48-year-old Lee Jae-yong (aka Jay Y
Lee) of bribing a president’s close friend to secure state support for a
business deal that would bring him to the top of the company. The local
court approved the billionaire’s arrest, and the rumors are that he can
be indicted on such charges as bribery, embezzlement, hiding assets
overseas and perjury.
Lee is officially vice-president of the group, but de facto he has been Samsung’s head since his father had a heart attack a couple years ago. He spent a night at the Seoul detention center awaiting the court’s decision. Lee was being held in a single cell and was not contacting with other prisoners. He might have to wait up to 10 days for the court to indict him, and they can even seek an extension. After indictment, the court would be required to make its ruling within 3 months.
The company said that it was not sure whether to contest Lee’s arrest or seek bail and claimed that Park had pressured Samsung into donating to foundations belonging to Choi Soon-sil, the president’s friend who is currently facing charges of attempted fraud and abuse of power. At the same time, the tech conglomerate claims that it had not expected any special favors in return.
Samsung’s head is the highest-profile figure who has been arrested in the Park scandal. The latter centers on her relationship with Choi, in which she conceded being “careless”. In his turn, Choi reportedly wielded undue influence on economic policy and the country’s relations with North Korea.
It is expected that this arrest will add momentum to the prosecutors’ case against Park and Choi. As for Samsung, the company is accused of paying bribes totaling $37m to the foundations operated by Choi and of providing Choi millions to fund his daughter’s equestrian training in Germany. For this, Lee reportedly sought the state approval for the $8bn merger of two Samsung affiliates, which would ease his way to the top of the Samsung group.
Park was recently impeached after weeks of mass protests and could become the first president to be forced from office. At the moment, she is president in name only, with her powers transferred to the prime minister and now acting president, Hwang Kyo-ahn.
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Lee is officially vice-president of the group, but de facto he has been Samsung’s head since his father had a heart attack a couple years ago. He spent a night at the Seoul detention center awaiting the court’s decision. Lee was being held in a single cell and was not contacting with other prisoners. He might have to wait up to 10 days for the court to indict him, and they can even seek an extension. After indictment, the court would be required to make its ruling within 3 months.
The company said that it was not sure whether to contest Lee’s arrest or seek bail and claimed that Park had pressured Samsung into donating to foundations belonging to Choi Soon-sil, the president’s friend who is currently facing charges of attempted fraud and abuse of power. At the same time, the tech conglomerate claims that it had not expected any special favors in return.
Samsung’s head is the highest-profile figure who has been arrested in the Park scandal. The latter centers on her relationship with Choi, in which she conceded being “careless”. In his turn, Choi reportedly wielded undue influence on economic policy and the country’s relations with North Korea.
It is expected that this arrest will add momentum to the prosecutors’ case against Park and Choi. As for Samsung, the company is accused of paying bribes totaling $37m to the foundations operated by Choi and of providing Choi millions to fund his daughter’s equestrian training in Germany. For this, Lee reportedly sought the state approval for the $8bn merger of two Samsung affiliates, which would ease his way to the top of the Samsung group.
Park was recently impeached after weeks of mass protests and could become the first president to be forced from office. At the moment, she is president in name only, with her powers transferred to the prime minister and now acting president, Hwang Kyo-ahn.
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SaM
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