South Korea prosecutor seeks arrest of Samsung chief for bribery.
South Korea’s special prosecutors are seeking to capture the head of Samsung Group Jay Y. Lee over allegations of a pay off including President Park Geun-hye.
Jay Y. Lee is associated with paying up to $36.42 million (43 billion won) in bribery to Choi Soon-sil as an end-result of administrative approval of controversial mergers.
The head of Samsung is likewise blamed for embezzlement and perjury, according to the prosecution’s application for an arrest warrant.A ruling is expected on Wednesday.
“The special prosecutors’ office, in making this decision to seek an arrest warrant, determined that while the country’s economic conditions are important, upholding justice takes precedence,” Lee Kyu-chul, a spokesman for the office, told a media briefing.
Samsung has not accepted the accusation.“It is difficult to understand the special prosecutors’ decision,” it said in an emailed statement.
investigators are investigating whether Samsung’s support for a business and establishments began by Choi Soon-sil might be connected to the National Pension Service’s 2015 choice to favor a controversial $8 billion merger of two Samsung Group associates.
Choi, in confinement and on trial on charges of manhandle of power and endeavored fraud, again denied wrongdoing on Monday in an appearance at the Constitutional Court. She likewise denied having any earlier information of the Samsung Group’s controversial 2015 merger of two affliates.
“Even if I knew, I could not have passed on any information because I have no knowledge about mergers or hedge funds, anything like that, in the first place,” Choi told the court.
The South Korean parliament impeached the president in December. The Constitutional Court presently can’t seem to choose whether to back the choice.
Shares in group flagship Samsung Electronics developed loses on Monday and were down 2.3%.