Image Source: Fortune
Back in January, South Korean prosecutors were looking to arrest Samsung head Lee Jae-yong, also known as Jay Y. Lee, for bribery charges although they did not do so because they lacked a warrant. Today, Yonhap News has reported that Jay Y. Lee has officially been arrested over said bribery charges.
The arrest of Lee comes after prosecutors pursuit a second warrant for the arrest of Samsung's head. According to reports, some of the charges that were leveled against Lee includes hiding criminal proceeds and violating the law on transferring assets abroad in the process of giving bribes to Choi Soon-sil, the confidant of then President Park Geun-hye. While Lee has been arrested for bribery, the South Korean courts denied the prosecutors a warrant that would lear to the arrest of Samsung Electronics President Park Sang-jin.
Following his arrest, Lee will stay at a detention center located in Uiwang to await his ruling. In the meantime, Samsung is expected to continue its day-to-day operations as per normal.
Source: Yonhap News