from the putting-the-money-back-in-politics dept.
Samsung's heir apparent Lee Jae-yong has been placed under arrest in South Korea, accused of bribery and other charges. The case is linked to a scandal that led to the impeachment of President Park Geung-hye.
Samsung is accused of giving donations to non-profit foundations operated by Choi Soon-sil, a friend of Ms Park, in exchange for government favours. Mr Lee and the Samsung Group deny any wrongdoing.
[...] Prosecutors accused Mr Lee of giving donations worth 41bn won ($36m;£29m) to organisations linked to Ms Park's close friend Ms Choi. They alleged this was done to win government support for a big restructuring of Samsung that would help a smooth leadership transition in favour of Mr Lee, who is standing in as chairman for his ill father, Lee Kun-hee.
The controversial merger required support from the national pension fund - the allegation is that this support was granted in return for the donations.
Source: BBC
Related Stories
Lee Jae Yong: Samsung heir gets prison term for bribery scandal
Samsung heir Lee Jae Yong has been sentenced to two years and six months in prison by a high court in South Korea.
The bribery case is a retrial of an earlier one involving the country's former President Park Geun-hye, who was also jailed for bribery and corruption.
Lee has been the de facto head of Samsung Electronics since 2014.
The ruling is likely to have ramifications for the future of his role at the tech giant.
News of the sentence sent Samsung electronics shares more than 4% lower before they began to claw back some ground.
Also at Wccftech.
Previously: Samsung Vice Chairman a Suspect in South Korean Presidential Bribery Probe
Samsung Vice Chairman Arrested For Bribery, Perjury And Embezzlement
President Park Geun-hye's Impeachment Upheld as South Korea's "Trial of the Century" Begins
Samsung Electronics Vice Chairman Sentenced to Five Years in Corruption Scandal Ruling
(Score: 4, Funny) by Thexalon on Friday February 17 2017, @04:00PM
I'm glad they're putting a stop to this potentially explosive situation. I'm sure he'll be fired soon if he's not careful.
The only thing that stops a bad guy with a compiler is a good guy with a compiler.
(Score: 2) by DeathMonkey on Friday February 17 2017, @06:31PM
The arrest does not reflect a court opinion on guilt or innocence but only means it considers the potential crime very serious or that it assumes a flight risk.
Wait....they're allowed on planes again?
(Score: 2) by Runaway1956 on Friday February 17 2017, @04:05PM
Samsung isn't a pharmaceutical company! They are certainly not a Monsanto!
(Score: 0) by Anonymous Coward on Friday February 17 2017, @04:31PM
These Koreans are stuck in the past, trading money for influence is old school corruption, boring stuff.
Get with the program--Trump now accused of trading national policy ("One China") for trademark rights in China. This link includes links to some major media outlets--
http://hotair.com/archives/2017/02/16/after-10-year-court-battle-trump-finally-lands-valuable-construction-trademark-in-china/ [hotair.com]
(Score: 1, Funny) by Anonymous Coward on Friday February 17 2017, @05:32PM
If more domain names were so honest...