Crime Samsung leader arrested for bribery and embezzlement as corruption scandal deepens

tom_mai78101

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Samsung Group’s Jay Y. Lee was formally arrested on allegations of bribery, perjury and embezzlement, an extraordinary step that jeopardises the executive’s ascent to the top role at the world’s biggest smartphone maker.

The Seoul Central District Court issued the warrant for Lee’s arrest early Friday. Including procedural steps and appeals, it may take as long as 18 months for a trial and verdict. The decision was made because of the risk that he might destroy evidence or flee, a court spokesperson said.

Investigators are looking into whether the vice chairman of Samsung was involved in providing as much as 43bn won (£30.4m) to benefit a close friend of South Korean President Park Geun-hye, in exchange for government support of his management succession. Prosecutors allege that Lee, 48, funded Park’s associates as he tried to consolidate control over the sprawling conglomerate founded by his grandfather.

Lee, who had been waiting for the court’s decision at a detention center in Seoul, will remain there as a result of the arrest warrant. The court rejected the prosecutor’s request to arrest Samsung Electronics President Park Sang-Jin. With Lee under detention, Park will probably assume some of Lee’s responsibilities.

“We will do our best to ensure that the truth is revealed in future court proceedings,” Samsung Group said in a statement. The shares of Samsung fell less than 1 percent in Seoul. Prior to the arrest, the stock had climbed 5.5 percent this year, following a 43 percent rally in 2016.

Read more here. (Independent UK)
 

tom_mai78101

The Helper Connoisseur / Ex-MineCraft Host
Staff member
Their president is not doing well...
Fun fact. All South Korean presidents did not complete their full terms:
  • 1st President - led the Korean government in exile during Japanese occupation, impeached and escaped to Hawaii. Took power after WW2 and forced to resign because of rigged election
  • 2nd President - resigns due to military coup, sentenced 3 years imprisonment in court-martial
  • 3rd President - wife shot by guy trying to kill him, soon after killed by head of Korean Intelligence Agency
  • 4th President - couldn't control demonstrations, resigns due to Gwangju Massacre after just 8 months in office
  • 5th President - sentenced to death for his role in the Gwangju Massacre, later pardoned
  • 6th President - arrested for bribery after term, imprisoned 17 years for mutiny and treason during Gwangju Massacre, later pardoned
  • 7th President - economic crisis forcing IMF to step in during term, second son arrested for bribery of intercession and tax evasion
  • 8th President - 5 family members including his 3 sons guilty of bribery
  • 9th President - "slips and dies" while climbing a mountain during investigations for bribery (official story is that it was a suicide, but you can never be certain of anything in South Korea)
  • 10th President - brother arrested, wife's cousin arrested, accused of violating real estate laws
  • 11th President - daughter of 3rd president, puppet of a cult leader, impeached
 
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    I'll check it out, my lease expires in like a few months so I need to figure something out.
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    I tried to open a food truck in Sandpoint a few years ago but the city said no, then like two years later they passed new laws to encourage it and gave them all fucking tax breaks and shit. And at that point I didn't have enough money to go buy one so I was way too late to the game once other cities realized they could just bring their existing truck there, or sell their brick and mortar.
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    I do like food trucks though, they're way more fun than restaurants and usually I also get some of that tip money there.
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    Restaurants are really hard if you don't have a back up source of income to fund them sometimes, in my experience most owners either got really really lucky, had existing money that allowed them to buy an already successful one, or they have family money to fall back on for loans. It's few and far between to see very inspiring success stories where the person actually got it through hard work and perseverance. I thought about opening one lots and I always just end up not thinking it'll work. I would much rather just find someone that has that money and go work for them
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    i am not talking about opening a brick and mortar I am talking about food trucks though I have seen some brick and mortar mexican places open up during covid that are doing good because there food is awesome!
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    Food trucks are killing out here because Bars cannot open unless they sell food and the governor ok'd the use of a food truck in front as serving food
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    Just not enough food trucks
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    he is killing it
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    @Varine with the restaurants, there surely is a lot of luck and hard work but most restaurants fail because they suck. Flair isn't right, economics not well thought through, food is mediocre or sucks, location is bad, etc. If you're thinking about opening one, make sure you're looking at the stories of those that would be playing at your level, don't let your hopes be dragged down by all the subpar restaurants out there.
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    My sister in law worked in a vegan food truck, the owners were also making a killing, added several trucks and opened two restaurants over 5 years
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    The CompTIA stuff is pretty much crap unfortunately. The places that ask for those low-level certs aren't likely places you want to work. For IT you really want a degree, but in the meantime you need to figure out some way to learn the skills. Cybersecurity is really hot right now so competition is fierce.
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    I realized I don't have anything much to say, other than "Good luck!". Compared to other places, I'm just very lucky we didn't have a lot of surges of cases coming in.

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