Head of Samsung arrested for bribery

In South Korea, the court granted a second request of the Prosecutor’s office for the arrest of Vice-President and actual head of Samsung Lee Jae Yong, reports Reuters. He is suspected of paying bribes close to the President.


Head of Samsung arrested for bribery

48-year-old Li became the first in the history of Samsung company leader detained in a criminal case. To expect the court’s decision, the top Manager will be in prison, located 15 kilometers South of Seoul. The results of the investigation can affect the course of the impeachment, declared the country’s President Park Geun-Hye in connection with the corruption scandal.

Prosecutors also asked the court to approve the arrest of the President of Samsung Electronics San Jin Pak, but this request was denied.


The court made the decision at 5:30 a.m. local time. Samsung Electronics shares opened down 1.2%, paper Samsung C&T Corp. by 3.2%.

It is expected that Lee JI Yeon will remain under arrest until the investigation is completed. It is expected to end on February 28, but the investigation is asked to extend for a month

In a brief statement in connection with the arrest Whether Samsung has promised “to do everything possible to ensure the truth in future judicial proceedings.”


Head of Samsung arrested for bribery

19 January, the judge in response to the request of the public Prosecutor about the arrest of Lee Jae-Yong replied that at the current stage of the investigation, “it is difficult to recognize the necessity and validity of the arrest.” The investigation took three more weeks to submit new arguments in the case on bribery friend of President Choi sung-SIL. We are talking about the concealment of proceeds of crime, or the violation of law on transfer of foreign property.

Lee Jae-Yong made the decision on rendering of financial support Choi sung-SIL in exchange for the location authorities, believes the investigation. The Prosecutor’s office suspects that he has paid or promised to pay her 43 billion won ($36.3 million) to ensure the government’s support of dubious merger and the company Samsung Cheil Industries Inc. in 2015.

Samsung has listed more than $18 million accounts registered in Germany, company Choi sung SIL and her daughter for allegedly rendered consulting services. Funds were transferred to created friend of the President non-state funds.

Closest friend of the President is now under arrest on suspicion of abuse of position. She is charged with extortion of large corporations, a total of 77.4 billion won ($65,7 million), which were transferred to its non-profit funds. Among the victims are called Lotte, Hyundai Motor, POSCO steel, and telcagepant KT.

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