Samsung urges Seoul court to not issue arrest warrant for vice chairman Lee
by Plamen Dimitrov / Jan 17, 2017, 3:11 AM
Samsung Group and several prominent members of the South Korean business community have appealed to a Seoul court to not authorize the arrest warrant against the vice chairman of Samsung Electronics Jay Y. Lee. Special prosecutors requested said warrant on Monday, and tomorrow the court is to decide whether Lee should face detention before standing trial for allegations of corruption and bribery.
This marks the latest development in a corruption scandal of epic proportions, which resulted in the impeachment of South Korean President Park Geun-hye. For those unfamiliar with the story, Jay Y. Lee, who serves as the de facto head of Samsung Group after his father suffered a heart attack, allegedly wired the equivalent of $36 million from Samsung subsidiaries to two foundations set up by President Park's confidante, Choi Soon-sil. Reportedly, the money were paid out to win favor from the country's state pension fund, which supported a merger between two Samsung affiliates in 2015. The move was supposed to smooth over the father-to-son transition of Samsung's ownership, but needless to say, it backfired in a spectacular fashion.
Samsung issued a statement on Monday, in which the company declared that it can't accept the bribery charges. The tech giant denied the allegations, while explaining that the money transfer wasn't related to the 2015 merger and arguing that it was strong-armed into offering the sum.
Officials from the company also said that vice chairman Lee can be trialed without being detained, as he was already banned from leaving South Korea due to the ongoing investigation. The statement also mentioned that the possibility of destruction of evidence is low because the prosecution already secured enough evidence following the three raids on Samsung offices.
Posts: 3231; Member since: Oct 03, 2015
Samsung is screwed.
posted on Jan 17, 2017, 3:27 AM 3
Posts: 1774; Member since: Jul 30, 2013
Why? VW was in deeper s**t and its not screwed. It got a big hit and it moved on, people love VW cars and thats it.
posted on Jan 17, 2017, 5:05 AM 5
" the Chinese don't know the definition of 'emissions' and offset all the world losses." China is actually very aware of the threat of emissions, which is they are are decimating the U.S in renewable energy actually right now and they are investing over $350 billion in renewable energy tech by 2020. https://www.nytimes.com/2017/0
They just scrapped plans for over a 100 coal mines to be developed
China in 2016 set the record for solar panel deployment in a year also..
So while yes China is a big contributor of pollution (America is actually just as bad if not worse in emissions currently) they certainly are pushing ahead in rewewable energy tech MUCH more better then the U.S is currently.
China is doing much better currently in this regard and they also don't have a pres-elect spouting out how they will bring back coal and oil industry and not turning to renewable energy
China is much more aware of the term "emissions" and it what it entails over the U.S currently
TLDR; China is actually kicking the U.S ass very hard in renewable energy tech and deployment and we most likely won't be the renewable energy power house of the 21st century due to dudes like Donald Trump who are quite clueless and so narcissistic that they dont even care about this issue
posted on Jan 17, 2017, 10:18 AM 0
Posts: 6879; Member since: Feb 10, 2012
Well, if he is involved in this corruption case, I don't see why he shouldn't spend some jail time.
posted on Jan 17, 2017, 4:01 AM 2
Posts: 6747; Member since: Sep 30, 2014
I also don't see why this news even here... it's not smartphone news, nor tech news..
posted on Jan 17, 2017, 4:24 AM 1
Posts: 6879; Member since: Feb 10, 2012
Well considering this is PA, I don't see why it shouldn't be published on here, they always post any story that is related to Apple and Samsung, so it's only fair that they share this story too. Add to the fact that it has been shared on almost every tech site.
posted on Jan 17, 2017, 4:41 AM 5
Posts: 164; Member since: Feb 23, 2015
Well it is way more complicated than what is portrayed outside world. Current Korean president is attacked by her opponensts and on verge of impeachment verdict. The thing is many convictions seems either false allegations and only thing left is wether she received any money from the Chebols. Samsung is denying that and insisting they donated money to promote sports. But the persecutors are claiming its bribe to gain some favorism from the president. The problem is the money didn't go to the presidents account but still there with the sports promotion organization. So verdict is still out there.
posted on Jan 18, 2017, 10:23 AM 0
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