Skip to main content

Samsung Vice Chair, Four Others Indicted On Bribery & Embezzlement Charges

By

A week after a South Korean court approved a warrant for the arrest of Samsung vice chairman Jay Y. Lee in connection with a bribery case, the executive and four others were officially indicted. 

The New York Times reports that Lee, who was arrested on Feb. 17, was indicted on bribery and embezzlement charges while four other senior executives — three that have resigned — were indicted for the same charges, but not arrested.

Lee initially avoided arrest last month when a court denied the prosecutor’s first warrant request, citing a lack of evidence.

The indictments come at the end of the South Korean special prosecutor’s 90-day investigation into a corruption scandal involving South Korea President Park Geun-hye.

Lee was first publicly tied to the case last month when he faced 22 hours of questioning related to his part in the scandal.

The case involves whether or not millions of dollars in payments from Samsung to businesses and foundations run by an associate of the President’s — Choi Soon-sil — constituted a bribe, and if Lee had any personal dealings with the contributions.

The prosecutor’s office alleges that Samsung’s contributions — including $17 million in donations to Choi’s foundation and millions of dollars worth of contracts to companies she ran or was involved with — were made in exchange for a decision by the National Pension Services to support a merger of two of the electronic company’s affiliates.

The merger was personally reportedly beneficial to Lee, as it eventually led him to take over control of Samsung from his father.

The Times reports that while Lee was charged with embezzlement and bribery, he was also accused of perjury stemming from claims he made in a preliminary hearing that he never bribed Choi or President Park.

He continues to claim that the millions of dollars in “donations” Samsung paid were coerced, the Times reports.


by Ashlee Kieler via Consumerist

Comments

Post a Comment

Popular posts from this blog

Chrysler Deletes Its Dating Apps, Decides To Remain Single For Now

By
They say you can’t have a healthy relationship until you’re happy with yourself. That appears to be the new mantra for Fiat Chrysler: After several attempts to woo General Motors and more recently Volkswagen , the carmaker’s top executive says he plans to ditch his lovelorn ways to concentrate on his company’s bottom line.  Bloomberg reports that CEO Sergio Marchionne has turned his focus to eliminating FCA’s debt rather than eliminating its single status. Marchionne has set a goal of erasing FCA’s debt by 2019, the same year he’s set to retire. To do that, he says the company needs to do a little work on itself. “We need to be very careful that we don’t start unrealistic dreams about consolidation as we are on our way to achieve historically important results and a debt-free position,” Marchionne told investors at the carmaker’s annual meeting in Amsterdam, as reported by Bloomberg. “We are not at a point of time to discuss any alliance.” Yes, you heard that right: The man w...
Post a Comment
Read more

Study Claims 43% Of “Wild” Salmon In Stores & Restaurants Isn’t Wild At All

By
That wild salmon entrée calling to you from the menu at dinner might not be all it’s advertised. In fact a new study released Wednesday found evidence of mislabeling in nearly half of all salmon sold in restaurants and grocery stores.  The study [ PDF ] from international environmental advocacy group, Oceana, analyzed 82 salmon samples from restaurants and grocery stores, finding that 43% of the products were mislabeled. DNA testing confirmed that 69% of the mislabeled product consisted of farmed Atlantic salmon being sold as wild-caught product. According to the report, consumers satisfying their salmon craving in restaurants are misled about 67% of the time, while those who buy their seafood in a grocery store are misled 20% of the time. “Americans might love salmon, but as our study reveals, they may be falling victim to a bait and switch,” Beth Lowell, senior campaign director at Oceana, said . “When consumers opt for wild-caught U.S. salmon, they don’t expect to get a far...
Post a Comment
Read more

Introduction to Biology (IX Biology Notes Chapter 01)

By
Science: Our universe operates under certain principles. For understanding of these principles, the experiments are done and observations are made; on the basis of which logical conclusions are drawn. Such a study is called "Science". In brief science is the knowledge based on experiments and observations. Biology: The Scientific study of living organisms is called Biology. The word biology is derived from two Greek words "bios" meaning life and "logos" meaning thought, discourse, reasoning or study. It means that all aspects of life and every type of living organism are discussed in biology. Branches of Biology: Biology is divided into following branches: Morphology The study of form and structure of living organisms is called morphology. It can be further divided into following two parts: 1. The study of external parts of living organism is called external morphology. 2. The study of internal parts of living organism is calle...
Post a Comment
Read more