Head Of Samsung Under Arrest For Corruption, Bribery

Shin Wong-soo/News1 via REUTERS

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Eric Lieberman Managing Editor
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The leader of Samsung, the South Korean-based tech conglomerate, was arrested Friday for allegedly bribing a government confidante so he could permanently take over the company.

Prosecutors are accusing Jay Y. Lee, the vice chairman and de facto head of Samsung, of trying to curry favor with a close friend of President Park Geun-hye with monetary compensation, according to Reuters. Lee allegedly wanted to ensure that he would be next in line for Samsung’s lead role.

The National Assembly voted overwhelmingly to impeach President Park in December for her alleged involvement in an influence-peddling scandal. (RELATED: S. Korea’s Impeached President Claims She Was ‘Framed’ As High-Profile Arrests Continue)

If the country’s Constitutional Court upholds that decision, it would make her the first ever democratically elected South Korean leader to be forced from office, reports Reuters. (RELATED: South Koreans Dance In The Street Celebrating The Fall Of Their President)

Along with bribery, Lee, 48, is also being charged with embezzlement, perjury, and hiding assets overseas.

Lee, who is an heir of the country’s richest family and third-generation leader of Samsung, was taken to jail early Friday.

Prosecutors were apparently able to dig up more dirt on him after the same court declined a request to arrest him just last month. They now have 10 days to officially indict Lee.

Like Park, Lee and Samsung deny any wrongdoing in this case. (RELATED: Samsung Pins Blame Of Exploding Phones On Battery Providers)

“We will do our best to ensure that the truth is revealed in future court proceedings,” Samsung said in a brief statement after Lee’s arrest, according to Reuters.

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