Samsung urges Seoul court to not issue arrest warrant for vice chairman Lee


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.

via SamMobile

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15 Comments

1. Plasticsh1t

Posts: 3106; Member since: Sep 01, 2014

Corrupt s-sheep gets what he deserves.

12. Skimshaddy

Posts: 126; Member since: Feb 23, 2016

Morons! lock him up.

2. fancollo

Posts: 130; Member since: Dec 30, 2015

So... is Trump and the Russians involved too?

3. NoToFanboys

Posts: 3231; Member since: Oct 03, 2015

Samsung is screwed.

7. Martin_Cooper

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.

8. NoToFanboys

Posts: 3231; Member since: Oct 03, 2015

Screwed as in in big trouble, not screwed as in dead

11. mixedfish

Posts: 1555; Member since: Nov 17, 2013

What are you on about, VW sales in the US got decimated. VW just got lucky that the Chinese don't know the definition of 'emissions' and offset all the world losses.

15. mikehunta727 unregistered

" 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/2017/01/05/world/asia/china-renewable-energy-investment.html?_r=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

10. drunkenjay

Posts: 1671; Member since: Feb 11, 2013

no its not lol samsung is way too big.

4. maherk

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.

5. ibend

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..

6. maherk

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.

13. sissy246

Posts: 7115; Member since: Mar 04, 2015

I agree some what, but they don't post all stories about apple or Timmy boy.

14. kiko007

Posts: 7493; Member since: Feb 17, 2016

So a leading official of the largest conglomerate in Asia isn't tech news, but Tim Cook taking a pay cut is? Your logic is that of a coined conman pleading to a hung jury.

16. pendragon0202

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.

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