Samsung Boss To Be Arrested Over $36 Million Bribery Claims

Advertisement

A warrant has been issued for the arrest of Samsung’s boss Jay Y Lee over claims of bribery, perjury and embezzlement.

The heir apparent and Vice Chairman of Samsung, Jay Y Lee, has been accused of paying the sum of $36 million in bribes to Choi Soon-sil, the disgraced friend of impeached president Park Geun-hye for business favors.

Special prosecutors insist that while the latest Samsung bribery scandal may worsen the economic state of the country, justice has to be served.

See Also: Samsung Has To Dump Over 4.2 Million Phones And Environmentalists Are Worried

Lee Kyu-chul, Prosecutor’s office spokesperson, said:

“The special prosecutor’s office, in making this decision to seek an arrest warrant, determined that while the country’s economic conditions are important, upholding justice takes precedence.”

Samsung is South Korea’s most powerful conglomerate.

Claims have surged up suggesting that the current Samsung boss Lee paid bribes to a business and two foundations run by Choi Soon-sil, the long time friend of the president.



choi-soon-sil

Choi was the catalyst of South Korea’s president’s impeachment late last year.

The prosecutors are keen on summoning Samsung boss to court on Wednesday, to ascertain if the money Samsung paid Choi was connected to a 2015 decision by the National Pension Service (NPS) to approve a controversial $8 billion merger of two Samsung group affiliates.

See Also: Samsung Electronics Forced To Recall 2.8 Million Washing Machines In The U.S

It is speculated that Choi sponsored her daughter’s equestrian training in Germany with the millions of dollars paid by Samsung.

Choi, who is facing charges of fraud and abuse of power, has denied any involvement in the bribery scandal,

“Even if I knew, I could not have passed on any information because I have no knowledge about mergers or hedge funds, anything like that, in the first place.”

Lee’s current bribery allegation will be the next big scandal after the fire accidents involving its faulty Galaxy Note 7 smartphone.

Topics: