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Samsung-linked scandal takes down South Korea's president
The same scandal behind the arrest and indictment of Samsung exec and heir Lee Jae-yong has resulted in the removal of South Korean president Park Geun-Hye. Parliament impeached Park on December 9th over charges including bribery and corruption for allegedly trying to squeeze money out of large companies in return for favors. Today's unanimous court decision by eight judges ends the 92-day leadership crisis (the country's prime minister had assumed her duties) and triggers the process for a new election to take place within 60 days.
Samsung boss won't face arrest, at least for now
Samsung just dodged a bullet... for a while, anyway. A South Korean court has dismissed a warrant to arrest the company's Vice Chairman and de facto leader, Lee Jae-yong, in an investigation alleging that Samsung paid the President's scandal-ridden confidant to illegally secure approval for a merger. There's just not enough evidence to suggest that an arrest is needed, according to the judge. While this doesn't guarantee that Lee is completely off the hook, he won't have to worry about jail time in the foreseeable future.
Samsung leader faces arrest in South Korea
Samsung's past several months have been pretty lousy, but they're about to get much, much worse. South Korean prosecutors have announced that they're seeking a warrant to arrest Samsung Vice Chairman Lee Jae-yong (aka Jay Y. Lee), the electronics giant's effective leader, over accusations of bribery and other misdeeds. Investigators allege that Lee was involved in payments made to Choi Soon-sil, an ally of the country's impeached President with cultish control, in a supposed bid to clinch approval for a merger.
