Head of Samsung arrested on charges of bribery

Lee Jae-Yong was involved in a corruption scandal surrounding girlfriend of the President of South Korea.

The Vice-President and actual head of Samsung Electronics Lee Jean (Lee Jae-yong; pictured) was arrested early Friday morning, February 17, in connection with allegations of involvement in the corruption scandal which has already resulted in the impeachment of South Korean President Park Geun-Hye.

Recall the chain of events. At the end of last year in the offices of Samsung tests were conducted: the company suspected of illegal financing of the company of the daughter of a close friend of President Park Geun-Hye Mrs. Choi sun-SIL (Choi Soon-sil). She, in turn, charged with providing pressure on the President to influence government decisions.

In the middle of last month, prosecutors in South Korea have applied to the court for a warrant for the arrest of Vice-Chairman of Samsung Lee Jaena. It was he, as believes a consequence, was involved in conducting financial fraud. In addition, the head of Samsung’s suspected of receiving bribes.

In January, a court in South Korea rejected the request to arrest Lee Jaena. However, the Prosecutor’s office sent a second request, which this time was granted.

Of course, the arrest of one of the most prominent businessmen of South Korea have a negative impact on the image of Samsung. Shares of the IT giant fell 1.2 percent, while paper Samsung C&T Corp lost 3.2 %. We can assume that this drop will not stop.

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