Home › News ›

Samsung Heir Arrested On Bribery Charges

Article Comments

Feb 17, 2017, 8:20 AM by Eric M. Zeman

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.

Wall Street Journal »
Reuters »

Oct 20, 2022
Verizon Prepaid has revamped its prepaid plans to offer more for less, with restructured payment discounts. The cheapest plan, offering 5 GB of data for as little as $25 (after discounts), has been eliminated.

T-Mobile Continues Expanding 5G Coverage, Tests Faster Uploads

May 4, 2023
T-Mobile is the first US carrier to successfully test carrier aggregation on the uplink side of a 5G data connection on a live 5G SA network. This new technology enabled upload data speeds of 207 Mbps, a record for sub-6 GHz (non-mmWave) 5G.

Federal Judge: Border Searches of Cell Phones Require a Warrant

Jun 1, 2023
A Federal judge in New York has ruled that a warrant is required for a cell phone search at the border, "absent exigent circumstances". U.S.

Jury Finds Google Violates Antitrust Laws with Play Store Rules

Dec 12, 2023
A jury in San Francisco has sided with Epic Games in the drawn-out legal battle the company is fighting against Google's app store restrictions. The jury found that Google had maintained a monopoly in the smartphone app store market and engaged in anticompetitive conduct.

Google Will Relax App Billing Rules, Pay $700 Million in Antitrust Settlement

Dec 19, 2023
Google has reached a settlement with 36 states and the District of Columbia in case alleging that Google operated its Play app store as an illegal monopoly. Google has agreed to let developers use alternative billing systems in the US, and "[simplify] the sideloading process".

more news about:

Comments

This forum is closed.

This forum is closed.

No messages

Page 1 of 1