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Samsung heir arrested for connection to President Park Geun Hye's scandal

Posted by yckim124764 pts Thursday, February 16, 2017
Buzz
Lee Jae Yong, the Billionaire heir and vice chairman of Korean chaebol Samsung, has been formally arrested.


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: Ministry of Justice considers granting long-term residency to foreign national who rescued grandmothers in wildfire


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. 




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