Police arrest Samsung chief on corruption charges

The head of Samsung has been arrested for an alleged role in a corruption scandal.

The South Korean technology firm is accused of being part of a scandal that has led to the downfall of the country's president.

Jay Y. Lee is the third generation of the same family to run the firm.

The vice-chairman and effective leader of the giant Korean consumer electronics group, Samsung has been arrested for alleged bribery, embezzlement, and perjury.

"We will do our best to ensure that the truth is revealed in future court proceedings," the company said in a statement after his arrest. This development is not expected to have an impact on Samsung's day-to-day operations.

Previous accusations against Lee have been rejected but new charges have been levelled against the executive.

"Given the newly presented criminal charges and the additional evidence collected, the legal grounds and need for arresting him are recognised," a South Korean judge said, according to The New York Times.

Lee Jae-Yong is the son of Samsung chairman Kun-Hee Lee and due to take full control of the company.


More in this Section

Accumulated profits at Johnny Sexton firm climb to €1.6m

Turkey raises tariffs on some US goods amid escalating feud

Latest: Web Summit withdraw Le Pen invitation saying it is 'disrespectful' to Portugal and attendees

More people saving money, but amount invested falls slightly


Today's Stories

Doubts Donald Trump’s growth spurt can be sustained

Lifestyle

New father’s life ‘changed forever’ after he was run over by surgeon

More From The Irish Examiner