South Korea is buzzing at the news that prosecutors have demanded no less than a 12-year prison term for Samsung’s billionaire heir, Jay Y. Lee. Lee is accused of attempting to solidify his total control of the massive company through a sketchy scheme that included bribing the South Korean President, Park Geun-hye.
Jay Y. Lee
After several years of non-stop success, Samsung has had a bit of a tough run lately. From exploding smartphone batteries to self-destructing washing machines to the arrest of the company’s Vice Chairman and heir-apparant…it’s been a challenging time, to say the least. But with the company Chairman Lee Kun-hee incapacitated due to failing health and his son, the Vice Chairman, now in police custody – the company’s biggest problem is a lack of leadership at the helm.
See how Samsung is addressing their leadership gap as a result of recent police action… [Read more…] about With Company Leader Incapacitated and Heir-Apparent Arrested: Who’s In Charge at Samsung?
Judge Questions Jay Y. Lee in Arrest Warrant Hearing
In a case that has been percolating for weeks but has now come to a boil, special prosecutors in South Korea have gone before a judge to obtain a warrant for the arrest of Samsung Group leader, Jay Y, Lee. Summoned by the court to testify, Lee answered questions in a closed-door session at the court, held today. Lee denied he or his company participated in any wrongdoing.
The judge’s decision is expected very soon.
See more on the legal troubles that Samsung now finds themselves in… [Read more…] about Prosecutors Make Their Case to Jail Head of Samsung
After a tough 2016, Samsung was likely looking for a little relief in 2017. They’ll have to keep looking because, as the old saying goes, “When it rains, it pours.” Reuters is reporting that prosecutors in South Korea have summoned Samsung Group leader Jay Y. Lee for questioning in a probe into an influence peddling scheme that may topple the president of the country and offer criminal indictments for some of the players.
Lee has been named as a suspect in the matter.