On the morning of February 17, Seoul court approved the arrest warrant for Lee Jae Yong, the de facto leader of Samsung Group, who's accused of bribery, embezzlement, and perjury. He was arrested with physical detention.
The prosecution suspects Lee to have made $37 million USD in bribes to President Park Geun Hye's friend Choi Soon-Sil in exchange for the backing of a merger between two Samsung groups that would essentially allow the transfer of control of Samsung to Lee Jae Yong. The prosecutors also brought up accusations on Lee of hiding assets abroad and concealing profit gained from criminal acts.
SEE ALSO: South Korea sees largest surge in marriages and births in 18 years
President Park, who was voted for impeachment in December, and her currently jailed friend Choi Soon-Sil, denied wrongdoings involving the business. Samsung admitted to making the payments but denied they were made for political favors.
SHARE
Log in to comment