Samsung Chief Lee Jae-yong Arrested On Bribery And Corruption Charges

Samsung Chief Lee Jae-yong
Image: Reuters

Short bytes: Samsung vice president Lee Jae-yong, who is also the de facto head of Samsung conglomerate, was arrested on Friday. He was taken into the custody in the light of bribery charges. It was alleged that in the past Samsung spent 43 billion won ($38 million) to get illegal government favors. The same scandal was also responsible for the impeachment of South Korean President Park Geun-hye.

On Friday morning, Samsung Group’s chief Lee Jae-yong was arrested on allegations of bribery, embezzlement, and perjury. He has been arrested in connection with South Korea’s corruption scandal, according to Reuters. Without a doubt, it’s a heavy setback for the country’s biggest conglomerate.

Lee was taken into custody after the Seol Central District Court issued a warrant for his arrest. According to media reports, the court said in a statement: “It is acknowledged that it is necessary to arrest [Lee Jae-Yong] in light of a newly added criminal charge and new evidence.”

He has been the de facto Samsung head after his father Lee Kun Hee, Samsung’s former chairman, was hospitalized in 2014 following a heart attack.

It’s claimed that Samsung had spent up to 43 billion won ($38 million) to get illegal government favors. The case was also related to South Korean President Park Geun-hye’s impeachment in December 2016.

At the moment, it’s not known whether Lee’s arrests would be contested, or bail would be sought. In a statement, Samsung and Lee have denied making any unlawful offer or paying a bribe.

It should be noted that the same court rejected the arrest request in January. However, with additional charges against Lee, the arrest was made possible. Also, the court rejected the request to arrest Samsung Electronics President Park Sang-Jin, who will now assume Lee’s responsibilities.

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Adarsh Verma

Adarsh Verma

Fossbytes co-founder and an aspiring entrepreneur who keeps a close eye on open source, tech giants, and security. Get in touch with him by sending an email — [email protected]
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