Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
July 26, Wednesday 2017 2:10 AM       

       HEADLINES: Internal feud in IPS association; IG Manoj Abraham resigns as secretary                                              VIPs behind abduction of producer's wife: Pulsar Suni                                              Pvt bus owners plan strike, demands hike in students' bus fare                                              Dileep breaks down in jail                                              'Don't believe that naive girl.." Manju was told                                              Padma Vibhushan awardee Professor Yash Pal dies aged 90                                              Ram Nath Kovind sworn in as India's 14th President                                              CS Karnan to make first petition to new President Ram Nath Kovind                                              Mutual respect despite disagreements is beauty of democracy: President Kovind                                              Modi pulls up BJP MPs over Parliament attendance                                              Pak PM's principal secretary accused of corruption                                              Repeal ObamaCare or 'You're Fired': Trump jokingly warns Price                                              Pak's High Commissioner to India Abdul Basit to retire early                                              India finish 7th in Youth CWG with 11 medals                                              Mithali named captain of ICC Women's World Cup team                                              Aussie tennis great Mervyn Rose dies                                              India gets WTA event after 5 years, 'Mumbai Open' in November                                              India gets WTA event after five years, 'Mumbai Open' in November                                              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
Pak's High Commissioner to India Abdul Basit to retire early  
Repeal ObamaCare or 'You're Fired': Trump jokingly warns Price  
Pak PM's principal secretary accused of corruption  
'Just want to go home': German teenager who joined ISIS  
Trump tweets frustration with Republicans  
Banners favouring Sharif's brother as PM appear in Lahore  
Kabul: Over 20 killed in suicide car bomb attack  
Trump declares he has 'complete power to pardon'  
Russia delivers Mi-171E chpeers to Balochistan  
China braces for Typhoon Roke  
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  
 
Secret files: Do you give clean chit to Tomin Thachankary?
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