Samsung Heir Arrested On Bribery Charges
Jay Y. Lee, a top executive at Samsung, has been arrested after a judge agreed that the special prosecutor's allegations of corruption warranted legal action. Lee has been under investigation for months over $37 million in payments that investigators say were used as bribes. The special prosecutor is also charging Lee with perjury, embezzlement, and hiding assets overseas. Lee has for the last several years been groomed to take over the company following the heart attack of his father. Some of the money, allege the prosecutors, was used to grease a contentious merger between two Samsung businesses that helped pave the way for Lee's ascension. The scandal has gripped South Korea since last year, as President Park Geun-hye is also involved. In a brief statement, Samsung said, "We will do our best to ensure that the truth is revealed in future court proceedings." Lee wasn't necessarily involved in managing the day-to-day operations of the company, but was involved in top-level decision making. Samsung may have to reorganize its executive structure to account for Lee's potential absence.
S. Korean Authorities to Arrest Samsung Heir On Bribery Charges
Prosecutors in South Korea plan to arrest Lee Jae-yong, the heir to Samsung's massive array of businesses. The special prosecutor's office is recommending Lee be charged with bribery, embezzlement and perjury, though the warrant must be approved by a Korean court before it can be served.
Korea Prosecutors Take Second Stab at Samsung Exec
South Korea's special prosecutor's office is taking another run at arresting and charging Samsung executive Jay Y. Lee.
Samsung Executive to Be Charged with Bribery
The special prosecutor's office in South Korea today said it will charge Samsung Executive Jay Y. Lee in a bribery case that has shaken the country.
Samsung Exec's Bribery Trial to Start Next Week
Samsung said executive Jay Y. Lee, arrested last month on embezzlement and bribery charges, is scheduled to go on trial as soon as March 9.