Samsung chief to be charged with bribery and embezzlement

A South Korean prosecutor plans to indict Samsung CEO Jay Lee on charges including bribery, embezzlement and perjury. Lee is on trial along with four other Samsung executives.

A spokesman for the South Korean Public Prosecution Service has said that Samsung is directly linked to the corruption scandal. Via dubious foundations and front men, the CEO is said to have paid a EUR 34 million bribe to former South Korean President Park Geun-hye. According to the spokesperson, the indictment describes in detail the private conversations between Lee and Park. Samsung has denied the allegations.

If South Korean prosecutor Lee actually charges these crimes, the trial could last about 18 months. This could also significantly delay the appointment of Samsung’s new boss. Bloomberg reports that.

Two weeks ago, South Korean authorities formally arrested Jay Lee. To this end, the regional court in the South Korean capital Seoul had issued an arrest warrant for 48-year-old Lee. The arrest took place because it was suspected that he would destroy evidence.

The CEO, who was regarded as the next general manager of the electronics manufacturer, is suspected of having played a role in a bribery scandal in which former President Park is also involved. Justice suspects Lee of giving money to the company of a friend of South Korean President Park. In return, the president would have supported him to become general manager in the future. Park is subject to impeachment proceedings; it remains to be seen whether she will actually be impeached by parliament. Since last year, Prime Minister Hwang Kyo-ahn has been the acting president of South Korea.

Lee is the grandson of the founder of Samsung. His father, Lee Kun Hee, is officially the head of Samsung, but he has been hospitalized since 2014.