Samsung heir indicted for bribery, embezzlement: prosecutors

February 28, 2017 11:56

The heir to the Samsung empire and four other top executives from the world's biggest smartphone maker were indicted today on multiple charges including bribery and embezzlement, South Korean prosecutors said.

"Special prosecutors today indicted Samsung Electronics vice chairman Lee Jae-Yong... for bribery, embezzlement, hiding of assets overseas... and perjury," said Lee Kyu-Chul, spokesman for the team probing the corruption and power abuse scandal that has seen President Park Geun-Hye impeached.

Lee was arrested earlier this month and the laying of formal charges against him and his colleagues makes them almost certain to face trial, casting new uncertainty over South Korea's biggest firm as it seeks to recover from a humiliating recall.

The 48-year-old has effectively been at the helm of the conglomerate since his father suffered a heart attack in 2014. Among other allegations, Lee is accused of paying nearly $40 million in bribes to a confidante of President Park's to secure policy favours. Lee -- who is also accused of concealing stolen assets -- has denied all charges.

« Back to LIVE

TOP STORIES

Nortje recalled; SA pick uncapped duo for T20 World Cup

South Africa have picked the uncapped duo of batter Ryan Rickelton and seamer Ottniel Baartman in their 15-man squad for the T20 World Cup

'Life can never be the same without you'

Rishi Kapoor died at the age of 67 on April 30, 2020, after a two-year battle with leukaemia.

Why is Modi nervous even in BJP bastions: Cong

The Congress on Tuesday alleged that its candidates in both Surat and Indore were threatened, intimidated and bulldozed into withdrawing their nominations, and asked why is Prime Minister Narendra Modi 'so nervous' and 'afraid' even in...

Mother Blesses New Naval Chief

On Tuesday, April 30, 2024, Admiral Dinesh Kumar Tripathi sought his mother Rajni Tripathi's blessings before taking charge as the Indian Navy's 26th chief.

Modi Is Being Outnumbered And Out-Rallied

This time Modi has no emotive message to take to the stump. Muscular nationalism doesn't work against the backdrop of China's successive inroads into Indian territory. Rising prices is a sore point that cuts across class and caste...