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Samsung head Jay Y. Lee arrested over alleged bribes

Friday, February 17, 2017 - 01:25

Samsung boss Jay Y. Lee has been arrested over his alleged role in a corruption scandal that led South Korea's parliament to impeach President Park Geun-hye, the latest twist in a controversy that has seized the nation. Ryan Brooks reports.

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A dramatic twist in South Korea's sweeping national scandal. Samsung boss, Jay Y. Lee, was arrested on Friday (February 17), a judge making the call at dawn following a day-long hearing. The billionaire is a target for his alleged role in the same top-level corruption scandal that's already led parliament to impeach South Korean President Park Geun-hye, and his arrest gives a boost to the case against the president. Samsung is accused of paying out 38 million dollars in bribes to organizations tied to Park's friend Choi Soon-sil to secure top-level support for a merger of two Samsung units and cement Jay Y. Lee's control of the family business. Choi's now in detention facing charges of abuse of power and fraud. The millions in alleged bribes from Samsung include sponsorship for her daughter's horse-riding career. That daughter is now behind bars in Denmark after she was named on a South Korean wanted list. Samsung and Lee deny any wrongdoing and say they never willingly made bribes. Experts say tossing Lee in detention won't affect the day-to-day at Samsung, but it could impact any long-term investment calls Lee would normally make. Meanwhile, President Park's powers are suspended. A separate constitutional court will decide whether she is ultimately booted from office.

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Samsung head Jay Y. Lee arrested over alleged bribes

Friday, February 17, 2017 - 01:25