Samsung's heir Jay Y. Lee indicted for bribery, perjury as trial commences


Today, Samsung's heir Jay Y. Lee stood trial over charges of committing perjury, embezzling funds, and playing a key part in the colossal influence-peddling scandal involving former South Korean President Park Geun-hye.

Lee arrived handcuffed at the Seoul Central District Court alongside four other high-ranking Samsung executives. He was taken into custody back in February, and since then, a further arrest followed for the ex-President of South Korea.

For those unfamiliar with the story, Lee, who serves as the de facto head of Samsung Group after his father suffered a heart attack, allegedly wired the equivalent of almost $40 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.

Although Samsung's day-to-day proceedings are unlikely to be affected by the latest events, the tech giant could suffer in the long haul from a huge power vacuum if Lee is found guilty.

Source: The Investor

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47 Comments

1. maherk

Posts: 6959; Member since: Feb 10, 2012

He should smuggle​ a Note 7 to his prison, and eventually, it will help him escape from his prison cell :D

2. aegislash

Posts: 1517; Member since: Jan 27, 2015

Careful, maherk...the Samsung die hards with no sense of humor will immediately jump down your throat calling you an Apple sheep over this. ;)

3. maherk

Posts: 6959; Member since: Feb 10, 2012

Trust me, I am used to it by now.

4. trojan_horse

Posts: 5868; Member since: May 06, 2016

No need to incite anyone aegislash... I personally do not really find maherk's joke to be funny... But to each his own.

6. Plasticsh1t

Posts: 3109; Member since: Sep 01, 2014

@trojan_horse Do you ever find humor in anything? You need to lighten up.

8. trojan_horse

Posts: 5868; Member since: May 06, 2016

We've nothing to discuss.

27. Plasticsh1t

Posts: 3109; Member since: Sep 01, 2014

@trojan_horse it would be for the best.

39. Tech_fan

Posts: 94; Member since: Mar 28, 2017

here we come..the iKid Boy has arrived from school.

47. HansP

Posts: 542; Member since: Oct 16, 2011

Maybe he should've gotten a US passport instead? Then he'd be president instead of in prison... :D

5. Plasticsh1t

Posts: 3109; Member since: Sep 01, 2014

@makerk haha good one :D

7. Trex95

Posts: 2383; Member since: Mar 03, 2013

You paid by Apple to say that! Lol XD

10. maherk

Posts: 6959; Member since: Feb 10, 2012

They paid me bigly, and I'm going to use that money to get myself an S8 :P

11. trojan_horse

Posts: 5868; Member since: May 06, 2016

"They paid me bigly, and I'm going to use that money to get myself an S8 :P" Now this is funny... LMFAO.

13. Trex95

Posts: 2383; Member since: Mar 03, 2013

Lol. I paid by Samsung I will get Asus zenfone AR 8 gig of ram :p

14. maherk

Posts: 6959; Member since: Feb 10, 2012

I'm waiting for my paycheck from Mitsubishi, I'm gonna get myself a nice Mercedes GT R :D

15. Trex95

Posts: 2383; Member since: Mar 03, 2013

Then ask jackie chan to give the paycheck he's one of the partner lol.

17. maherk

Posts: 6959; Member since: Feb 10, 2012

I'll ask Carlos Ghosn, he is the chairman of Mitsubishi now, and because he is Lebanese, I might be able to get a bigger paycheck from him

20. Trex95

Posts: 2383; Member since: Mar 03, 2013

Hahah nice one. Is it Mitsubishi bought by Nissan?!

22. maherk

Posts: 6959; Member since: Feb 10, 2012

Yeah, the deal was officially announced almost 6 months ago.

37. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Really I didnt know that. They use to be owned by Chrysler back in the 90's and did a really nice joint effect on several cars. My favorite was the Dodge Stealth RT which was our version of the Mitsu 3000GT. Even though both were sold here the VR4 did much better in sales. Gosh I sure wanted the Stealth though.

16. trojan_horse

Posts: 5868; Member since: May 06, 2016

You work at Mitsubishi? Wow... Mercedes ///AMG GT R ain't hot enough, though.

18. darkkjedii

Posts: 31310; Member since: Feb 05, 2011

@maherk. LMAO you're gonna make the fanboys hot under the collar dude. You know who, won't like the Note 7 jab ;)

19. maherk

Posts: 6959; Member since: Feb 10, 2012

You know me, I could careless about them, I can't please everyone.

24. Podrick

Posts: 1285; Member since: Aug 19, 2015

A tech expert is currently writing an essay to prove you wrong with "facts"

26. maherk

Posts: 6959; Member since: Feb 10, 2012

Too bad for him, I don't waste my time reading his novels

28. Podrick

Posts: 1285; Member since: Aug 19, 2015

Same for me. I read some of his post though. Those 1% that aren't novel lol.

30. maherk

Posts: 6959; Member since: Feb 10, 2012

I can't remember when was the last time I stopped by and read his comments. They're all the same, glorifying Samsung and attacking Apple no matter what the article is about.

36. Podrick

Posts: 1285; Member since: Aug 19, 2015

Agreed. All he does is make Android and Samsung users name bad with blind hate against anything non-Samsung, foul words and typos. Not like Samsung fanboys have good name but Techie is by far the worst of the bunch.

9. darkkjedii

Posts: 31310; Member since: Feb 05, 2011

@maherk. Good one lol.

35. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Nah...just take the batteries...not the whole phone...lol Also just FYI...he was the head of Samsung Group LTD. This is the parent company of the Samsung brand. He probably doesn't even use a Samsung phone. He probably has an LG or iPhone...lol

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