Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
March 26, Sunday 2017 4:33 PM       

       HEADLINES: Firework mishap in Kollam again; three injured                                              Kerala driver attacked in Australia                                              12 Indian fishermen arrested by Sri Lankan Navy                                              Senior Al-Qaeda leader behind 2009 attack on Lankan cricket team killed                                              One killed, 13 injured in US nightclub shooting                                              Hamilton on pole for Australian GP with record lap                                              Kohli ruled out, Rahane becomes India's 33rd Test captain                                              FIFA lauds Navi Mumbai venue, says this should be benchmark                                              Debutant Kuldeep takes 4, Australia all-out for 300 on Day 1                                              Kaumudi Facebook
       WORLD Next Article: Sundar Pichai responds to 7-year-old's Google job application  
       Samsung heir arrested in corruption probe
 
         Posted on :19:54:41 Feb 17, 2017
   
A A
       Last edited on:19:54:41 Feb 17, 2017
         Tags: Samsung heir arrested in corruption probe
 
SEOUL: The heir of South Korean giant Samsung was today arrested as part of a probe into corruption and influence-peddling that caused President Park Geun-Hye to be impeached. "It is acknowledged that it is necessary to arrest (Lee Jae-Yong) in light of a newly added criminal charge and new evidence," a court spokesman said in a statement. Lee Jae-Yong, Samsung Electronics vice chairman, is accused of paying nearly USD 40 million in bribes to Park's secret confidante to secure policy favours.
 
He was already being held at a detention centre after appearing in court yesterday as judges deliberated whether to issue an arrest warrant. Lee, the son of the Samsung group boss Lee Kun-Hee, has been quizzed several times over his alleged role in the scandal that has rocked the nation. The 48-year-old, described as a key suspect in the scandal, narrowly avoided being formally arrested last month, after the court ruled there was insufficient evidence. But prosecutors on Tuesday made a second bid for his arrest, saying they had collected more evidence in recent weeks.
 
His arrest, the first for a Samsung chief, is likely to send shock waves through the group, which is a major part of the South Korean economy and includes the world's largest smartphone maker, Samsung Electronics. It is already reeling from the debacle over the recall of its flagship Galaxy Note 7 device and reports have suggested it could face sanctions from overseas authorities if Lee is punished. The scandal centres on Choi Soon-Sil, who is accused of using her close ties with Park to force local firms to "donate" nearly USD 70 million to non-profit foundations which Choi allegedly used for personal gain.
 
Samsung was the single biggest donor to the foundations. It is also accused of separately giving millions of euros to Choi to bankroll her daughter's equestrian training in Germany. The court is also deliberating an arrest warrant for another Samsung executive, who is also the head of Korea Equestrian Federation, over bribery charges. Samsung said in a statement on Wednesday that it had "not paid bribes nor made improper requests to the president seeking favours". Lee has effectively taken the helm of Samsung -- South Korea's biggest business group -- since his father suffered a heart attack in 2014.
 
Prosecutors are probing whether Samsung had paid Choi to secure state approval for the controversial merger of two Samsung units seen as a key step towards ensuring a smooth power transfer to Lee. The merger in 2015 of Samsung C&T and Cheil Industries was opposed by many investors who said it wilfully undervalued the former unit's shares. But the deal went through after Seoul's state pension fund -- a major Samsung shareholder -- approved it. Samsung is South Korea's largest business group and its revenue is equivalent to about a fifth of the country's GDP.
A A
       WORLD
Next Article: Sundar Pichai responds to 7-year-old's Google job application
 
 
WORLD HEADLINES
One killed, 13 injured in US nightclub shooting  
Senior Al-Qaeda leader behind 2009 attack on Lankan cricket team killed  
B'desh: 3 killed, 31 injured as commandos storm militants' den  
'We are here to stay', says Indian-Americans  
Laptop ban hits Dubai for 1.1m weekend travellers  
Bill against outsourcing jobs back in House of Representatives  
'Significant arrests' made in UK terror attack case  
Death toll in UK terror attack rises to five  
ISIS claims British parliament attack; 8 arrested in UK raids  
London terror attacker was known to spies: British PM  
'Hero' British MP tried to save stabbed officer  
'Replacement of American workers not the intent of H1B visas'  
Dalai's successor should be from his native town: Scholar  
British Parliament Shootout: 7 arrested  
Four dead, including attacker, in UK parliament 'terror' assault  
US exploring new options against North Korea: WH  
US leaders discuss possibility of India becoming partner  
Musharraf wanted 'secret deal' to form joint govt: Sharif  
US bans laptops, iPads on direct US-bound flights from 8 countries  
UK joins US airline electronics ban  
India has withdrawn Miyar hydroelectric project's design: Pak  
Probing possible Russia links to Trump campaign: FBI chief  
Indian-origin man charged with murdering 1-yr-old in London, arrested  
Australian teen ‘punches crocodile’ in head during late night swim, escapes  
N Korea conducts rocket engine test  
 
Do you support the choice of Yogi as UP chief minister?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy