Samsung South Korea Leader Arrested for Bribery

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Samsung South Korea Leader Arrested for Bribery

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Samsung’s vice chairman Lee Jae-yong has been arrested in South Korea for charges of bribery and of hiding criminal proceeds and violating laws pertaining to transferring assets abroad. The court had found him guilty in January of 2017, but a warrant for his arrest was made only yesterday for the remaining charges.

The rationale for and the necessity of (Lee’s) arrest is acknowledged considering the new charges and additional evidence collected- Said the court

The charge of significant proportions putts Lee Jae-yong for bribing the  South Korean President Park Geun-hye $38 million for allowing special privileges to Samsung as a brand. The stories of Samsung being a company that has its roots stuck with bribery have been around since the time the founder of the company was charged with illegal business practices.

It just seems that the company cannot catch a break, failed Note 7, massive losses in the stock market and now this. The fy16-17 for Samsung has really not been good.

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iGyaan News Correspondent, an Intern, Technology lover, iGyaan hippie