Corruption scandal: Lee Jae-yong, Samsung heir, might face 12-year imprisonment
South Korean prosecutors have recommended 12-year imprisonment billionaire Samsung heir Lee Jae-yong. Earlier in February, Lee was indicted on charges of embezzlement and more for allegedly offering $38mn in bribe to a friend of then-President Park Geun-hye in lieu of a governmental push to a merger that would strengthen his control over the company. The four-month long hearing concluded today. Lee has denied all charges.
Samsung's de-facto chief to be indicted in South Korea
Samsung's chief Lee Jae-yong will be indicted by South Korean prosecutors on charges of bribery, embezzlement and other charges. These charges stem from a political scandal that led to President Park Geun-hye ouster. Lee allegedly committed perjury, hid assets abroad and concealed money earned through criminal activities. Lee was arrested on February 17. Prosecutors said he gave bribes worth $36 million to Park.
Several high-profile arrests in the nationwide crackdown
The case has seen many high-profile arrests, including Samsung Group chief Jay Y Lee, Choi Soon-sil, a supporter of President Park Geun-hye who was also involved in the scandal and who is blamed for bribing, Choi's daughter Chung Yoo-ra, as well as South Korea's former culture minister and previous presidential chief of staff. The scandal also led to the impeachment of President Park Geun-hye.
