“The acting head of Samsung is to be indicted on bribery and embezzlement charges connected to a corruption and cronyism scandal centring on South Korea’s impeached president, Park Geun-hye,” Justin McCurry reports for The Guardian. “Lee Jae-yong and four other Samsung executives will almost certainly face trial over accusations that South Korea’s biggest conglomerate donated millions of dollars to foundations run by a close friend of Park’s in exchange for government favours.”
“Later on Tuesday, Lee, who is officially Samsung’s vice-president but has in effect run the company since his father suffered a heart attack in 2014, will be charged with bribery, embezzlement, hiding assets overseas and committing perjury before parliament, prosecutors said on the final day of their investigation into a scandal that has rocked the country’s political and business worlds,” McCurry reports. “The four executives, who all face the same charges as Lee except perjury, are the Samsung group’s vice-chairman, Choi Gee-sung, and president, Chang Choong-ki, as well as Samsung Electronics’ president, Park Sang-jin, and executive vice-president, Hwang Sung-soo.”
“The firm, whose group revenues are equivalent to a fifth of South Korea’s GDP, has so far declined to comment on the charges,” McCurry reports. “The scandal has ensnared government officials and business figures, and could soon topple Park, the daughter of a former South Korean dictator. She became the country’s first female president in early 2012.”
Read more in the full article here.
MacDailyNews Take: We’ll be pleasantly surprised if actual convictions and any meaningful sentences occur in the Republic of Samsung.
Samsung is intertwined into South Korea like a stage IV cancer.
SEE ALSO:
South Korean court approves arrest of Samsung heir Lee Jae-yong – February 16, 2017
South Korean prosecution again seeks arrest of Samsung chief – February 14, 2017
Samsung heir Lee Jae-yong escapes arrest in massive bribery scandal – January 20, 2017
South Korea attempting to handicap Apple by demanding the removal of preinstalled apps like the App Store – July 7, 2016
Korea Fair Trade Commission clears Samsung’s use of standard-essential patents against Apple – February 27, 2014
South Korea, the Republic of Samsung – December 10, 2012
Welcome to South Korea, the ‘Republic of Forgery’ – September 11, 2012
Samsung’s ‘Instinct’ is obviously to make Apple iPhone knockoffs – April 1, 2008
The rot always begins at the top. We’ll see how far inside this gets.
That is just a crying shame…
🎉😁😁😁🎉crying shame indeed🎉😁😁😁🎉
You’ll never find a more wretched hive of scum and villainy than at SamSplode HQ. Fandroid who buy their wares especially now are the most clueless amoral morons imaginable.
They may need a new President – we have one that would fit perfectly for them!
Top people in any country run the system. That’s why top people can get away with big crimes while low level people get arrested for very small crimes in any nation.
In the US, for examaple, Gen. Patraeus gave his girlfriend a huge number of secret documents and was given a suspended sentence. Trump even considerd appointing him to a top gov. post. Chelsea Manning, a mere enlisted person, a private, blew the whistle on gov. crimes including murders. Big gub’mnt put her in prison for 30 years and tortured her by putting her into a cold cell naked to sleep on a sheetmetal bed and made her stand naked outside the cell for hours at a time.
I concur. Their is vast inequity between the treatment of the rich/powerful and poor/weak. The treatment of drug offenders is another good example. Poor drug offenders go to jail. Wealthy drug offenders typically go to rehab, often more than once. Another example is the treatment of “white collar” versus “blue collar” crimes. Pay a fine for stealing millions and ruining the lives of many people is a fraud scheme versus go to jail for stealing a few hundred dollars. Not that I am condoning either, but the white collar crimes often have serious consequences that are overlooked. The Enron fraud and the 2007 financial crisis, for instance, drove some people to suicide…basically murder by fraud.
There…not their.
http://crowdfund4mula.com/wp-content/uploads/2013/11/laughing-crowd-1.jpeg
And still Apple continues to use Samsung as a primary supplier. As a supposed supply chain genius, Cook is remarkably daft about continuing to feed the enemy.
Once again, THANK YOU JUDGE LUCY KOH ! for pandering to these criminals …at the expense of Apple.