Items tagged with jay y. lee

As if Samsung needed another controversy to deal with, special prosecutors in South Korea have called for the arrest of Jay Y. Lee (Lee Jae-yong), the de facto head of the company who serves as vice chairman and who is set to inherit the firm, on allegations of bribery, embezzlement, and perjury. The heir apparent  is accused of offering millions of dollars to a longtime friend of President Park in return for the president's support of a merger that took place in 2015. Prosecutors say Lee was involved in a bribery scheme with his friend Choi Soon-sil, who allegedly received funds for her and her family, along with donations to two foundations she controls. Choi did not have an official position... Read more...