Corruption Scandal Of Samsung Vice Chairman: Prosecutors Seeking Arrest Warrant Of Lee

Corruption scandal of Samsung Electronics vice Chairman Lee Jae-Young, 48 becomes a headline again. According to reports, South Korean Prosecutors are investigating a multi-million Dollars bribery scandal. Lee is suspected for paying a huge amount to the South Korean President as bribe. South Korean President Park Geun Hye is said to be a close friend of Lee.

According to The Verge, Special Counsel Park Young-Soo said that the prosecuting team is trying to avail arrest warrant of Lee Jae-Young under charges of Bribery, embezzlement and perjury. The first female president of South Korea is currently suspended under impeachment in the National legislature.

Lee is said to have paid more than 36 million dollars to Choi Soon-sil for business favors and concessions. Choi is a friend of South Korean President. The fund was provided for the smooth merger of two Samsung groups in 2015.

The two merger groups are Samsung C&T and Cheil industries. Merger of both the companies created the largest investing group in Samsung Electronics. Central District Court will decide about the issuing of arrest warrant for the Vice Chairman of Samsung Electronics on 1^st February after hearing of the petition.

Park is the first South Korean President to have been suspended under impeachment trial. She is also the first South Korean President to be tried under corruption charges. Park has categorically denied all the charges of corruption levelled against her.

She also rejected the claims of receiving millions of dollars through her friend Choi for favoring and facilitating merger of two Samsung companies. NY Times reported on the issue saying that team of prosecuting investigators will continue investigations in February and it may last until the end of the month.

The news website also quoted the prosecutors as saying that it is inappropriate at this stage to declare the money as bribe. Investigators were also quoted as saying that they will look into the adverse reasons, causes and effects of the money under reference.