Vice-President and de facto head of Samsung Group Jae Y. Lee was arrested on corruption charges. He is now awaiting trial at detention center in Seoul.
Prosecutors suspect Lee in financial ties with South Korean President Park Geun-hye. According to TNW, Lee paid Choi Soon-sil, confidant of Park’s, $36 million by private funds in exchange for support of his candidacy as heir of Samsung Corporation. Prosecutors insisted on arrest in January 2017, but court rejected their demands due to insufficient evidence base.
Samsung and Lee denied all allegations, despite the fact that Lee admitted buying horse for $800,000 for daughter of Choi Soon-sil. In addition, South Korea’s public National Pension Service that received multimillion-dollar donations voted for Samsung merging, which made Lee the largest shareholder of the company.
Court spokesperson commented that Jae Y. Lee was arrested in order to prevent destroying evidences or escape. At the same time, court denied arrest warrant for Park Sang-Jin, President of Samsung Electronics.