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Samsung Group Chief Jay Y Lee Indicted for Bribery Charges

Jay Y Lee, the de facto head and scion of Samsung Group was indicted along with four other executives by the special prosecutor in a case pertaining to bribery.

News18.com

Updated:February 28, 2017, 12:03 PM IST
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Samsung Group Chief Jay Y Lee Indicted for Bribery Charges
Jay Y Lee, the de facto head and scion of Samsung Group was indicted along with four other executives by the special prosecutor in a case pertaining to bribery. (Image: Reuters)
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Jay Y Lee, the de facto head and scion of Samsung Group was indicted along with four other executives by the special prosecutor in a case pertaining to bribery and other charges in a corruption scandal that led parliament to impeach President Park Geun-hye.

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Prosecutors had ordered the arrest of Lee, over a week ago, and accused him in his capacity as head of South Korea's largest conglomerate, or chaebol, of pledging 43 billion won ($37.74 million) to a business and organisations backed by Park's friend, Choi Soon-sil, in exchange for support of a 2015 merger of two Samsung companies.

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Samsung and Lee have denied wrongdoing in the case. Park, whose impeachment will be upheld or overturned by the Constitutional Court, has also denied wrongdoing.

Read more: Nokia 3310 to Sell for About Rs 3,500 in India

But the wide-ranging probe, part of a corruption scandal that led parliament to impeach South Korean President Park Geun-hye, has been a major distraction for the country's largest conglomerate, or chaebol.

Also read: Nokia Snake Game Available on Facebook Messenger

According to reports, Samsung spokesperson did not comment regarding Jay Lee’s indictment.

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