Samsung Chief Jay Y. Lee Arrested Amidst Corruption Scandal in South Korea

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Posted February 17, 2017 at 2:59pm by iClarified

Samsung Chief Jay Y. Lee was arrested over his role in a corruption scandal which has rocked South Korea, report Reuters.

Lee is accused of bribing a friend of President Park Geun-hye to secure support for a merger of two Samsung units and establish his control over the family business. Lee will be indicted on charges of bribery, embezzlement, hiding assets overseas, and perjury, according to the special prosecutor's office.

The 48-year-old billionaire was taken into custody at the Seoul Detention Centre early on Friday after waiting overnight for a decision.

The South Korean parliament has impeached Park and if the decision is upheld by the Constitutional Court, she would be country's first democratically elected leader forced from office.

Prosecutors have 10 days to indict Lee but they can request an extension. The court must make its first ruling within three months.

"We will do our best to ensure that the truth is revealed in future court proceedings," the Samsung Group said.

More details in the full report linked below...

Samsung Chief Jay Y. Lee Arrested Amidst Corruption Scandal in South Korea

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Great! - February 22, 2017 at 8:46am

Look Android fans... I've been saying this so many times: Samsung cheats. They were caught cheating. It's fact. They cheated on benchmarks for their phones, they cheated their shareholders, they cheated by copying Apple, and now their Head is caught cheating. Stop saying Samsung is good cos they aren't. It's in their company culture, led from the upper management. Don't support them any more. Time to wake up.

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D4xM4Nx - February 18, 2017 at 1:45pm

So long Samsung, who knows... No longer just a fiasco companies usually manage to come out of, the spiral they seem to have entered going downwards doesn't stop. It's about being on the spotlight for great products, not amidst endless scandals.

Pamela - February 18, 2017 at 4:14am

I stopped liking Samsung Android phones after the Galaxy S3. I would like to see LG or HTC lead the Android market instead eventually.

PaulieP - February 17, 2017 at 6:48pm

Silence from the Samsung fans... Apple is looking pretty good right now.

Great! - February 17, 2017 at 5:22pm

He orchestrated the exploding phone?