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Samsung head arrested over bribery charges

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Samsung head arrested over bribery charges. Proclaims innocence, naturally.
Lee Jae-yong, Samsung vice chair and son of chair Lee Kun-hee, has been arrested on charges of bribery in an investigation into South Korean President Park Geun-hye. Lee Jae-yong, Samsung’s vice chair and heir to the company’s controlling family, has been arrested on charges of bribery following an investigation into South Korea’s President Park Geun-hye.
Samsung’s Lee Jae-yong, also known by the Anglicised name Jay Y. Lee, has been reported by local media as having been arrested early this morning following an appeal to the Seoul Central District Court by special counsel investigating alleged bribery and wrongdoing by South Korean President Park Geun-hye. The counsel claims that Lee offered bribes totalling £29 million to Choi Soon-sil, a close friend and confidant of President Park, in exchange for the government’s backing of a merger between two disparate Samsung companies which allowed Samsung chair Lee Kun-hee to transfer control of the company to his son Jae-yong and continue the line of succession put in place by company founder Lee Byung-chul in 1969.

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