Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
July 23, Sunday 2017 4:17 AM       

       HEADLINES: Special trains from Ernakulam to Chennai and Bengaluru                                              Medical college bribery: BJP in lickety-split to find source of report leak                                              Medical college bribery: There was demand for NRI seat also                                              BJP mouthpiece demands NIA probe into medical college bribery issue                                              MLA being questioned, He called housewife 900 times in five months                                              Army jawan killed in ceasefire violation by Pak Army                                              Smriti Irani mocks Rahul Gandhi for taking dig at Centre                                              Critical deficiency in supply of ammunition to Army: CAG                                              Kashmir would become Syria if US intervenes: Mehbooba Mufti                                              Britain's SC gets first woman president                                              Baghdadi still alive: US Defence Secretary                                              16 Afghan police killed in US strike                                              Engage in direct dialogue: Pentagon tells China, India                                              Doval's visit key to ease Sikkim standoff: Chinese analyst                                              WBBL stint has transformed Harmanpreet: Mithali                                              Eyeing spot in British Open, Aditi adds solid 68 to lie sixth                                              Vardhan bags 2nd Challenger title, defeat for 4 others                                              BCCI to reward Rs 50 lakh each to Mithali & Co.                                              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
Doval's visit key to ease Sikkim standoff: Chinese analyst  
Engage in direct dialogue: Pentagon tells China, India  
16 Afghan police killed in US strike  
Baghdadi still alive: US Defence Secretary  
Britain's SC gets first woman president  
Greece: Two killed in massive earthquake  
French singer Barbara Weldens dies on stage  
Linkin Park's lead singer Chester Bennington 'found hanged'  
Russia to supply T-90S tanks to Iraq  
White House reporter breaks rules, live-streams briefing  
China blocks WhatsApp's images, videos; censors texts too  
Pak summons Indian envoy over ceasefire violations along LoC  
'US concerned over Chinese military build-up in Asia-Pacific'  
No red carpet for Trump: London Mayor  
British man drives auto-rickshaw across UK for Indian charity  
7.7-magnitude quake hits off Russia: US scientists  
Iranian newspapers break hijab taboo in tribute to Maryam Mirzakhani  
Amid row with India, Chinese Army holds live-fire drill in Tibet  
Jadhav's mercy petition to be judged on merit: Pakistan army  
Erdogan warns to cut off heads of traitors  
Pak's top general accuses India of targeting CPEC  
US House imposes conditions for defence funding to Pak  
To boost defence ties with India, US house clears over $600 bn bill  
'Anonymous letter' threatens Pak-China relationship  
Men carry out five acid attacks in London in 70 minutes  
 
Do you think M Vincent MLA was trapped?
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