Samsung Chief Charged With Bribery and Embezzlement (npr.org) 22
After a three-month investigation, the acting head of Samsung, Lee Jae-yong, has been charged with bribery and embezzlement in connection with the corruption scandal that led to the impeachment of South Korea's president Park Geun-hye. NPR reports: NPR's Elise Hu reported from Seoul that prosecutors announced the indictment after a three-month investigation: "Samsung acting head Lee Jae-Yong got ensnared after documents showed Samsung funneled some $36 million to the president's close confidant. Prosecutors say the money was paid to win government support of a controversial 2015 company merger. The merger did go through, after a vote of support from the government. In a statement, Samsung says it has not paid bribes or made improper requests to the government. Lee is currently in jail awaiting further proceedings in his case." Lee was arrested on Feb. 17, two months after President Park Geun-hye was impeached over allegations of corruption, influence-peddling and cult ties, as we reported. Those corruption allegations were directly tied to the charges brought against Lee, who also goes by the name Jay Y. Lee.
Noooooo (Score:1)
Re: (Score:3)
You kind of missed the point. This is a story about proper investigation and prosecution of high level corruption. All those involved in the investigation are to be congratulated and invited to practice in other countries like the US, especially the US. How many global problems would be solved by a US administration that finally tried to tackle high level corruption in the US which is the worst in the world and the most destructive in the world, USA number 1, with an exceptionally corrupt government, an exc
Just drop off the key, Lee (Score:2)
South Korea amazes me (Score:4, Interesting)
Here we have a well-industrialized country with megacorporations aplenty and relatively free mixing between political and economic power, where yet the judicial and executive branches are at all able (even if unwillingly, forced by the crowds) to take on corruption at the level of the president, and some of the largest megacorporations in the area -- if not the world.
Hats off. I expected this investigation to whitewash anyone with any power.
Re:South Korea amazes me (Score:5, Informative)
A lot of this has to do directly with need and desire to show the world that it's going directly after corrupt practices. There have been a lot of problems over the last 15 years, some of them not so bad, some of them very bad. Whether it's at a government level or at a business level. S.Korea passed new anti-graft and anti-corruption laws ~2 years ago directly targeting that because it had started moving in the direction of Chinese corruption. If you want to read on some of the stuff you can look here. [business-a...uption.com] There's also summaries on the differences on how corruption is considered there, compared to North America or Europe. Including the lower burden of proofs required, allowing for auditors and investigators to launch investigations into businesses or government at what would be considered circumstantial here in NA or EU. And allowing the use of CFE's(forensic accountants) for those investigations.
Re: (Score:2)
Thanks for the link.
Re: (Score:2)
A lot of this has to do directly with need and desire to show the world that it's going directly after corrupt practices. There have been a lot of problems over the last 15 years, some of them not so bad, some of them very bad. Whether it's at a government level or at a business level. S.Korea passed new anti-graft and anti-corruption laws ~2 years ago directly targeting that because it had started moving in the direction of Chinese corruption. If you want to read on some of the stuff you can look here. [business-a...uption.com] There's also summaries on the differences on how corruption is considered there, compared to North America or Europe. Including the lower burden of proofs required, allowing for auditors and investigators to launch investigations into businesses or government at what would be considered circumstantial here in NA or EU. And allowing the use of CFE's(forensic accountants) for those investigations.
Still. Here in the West. We hardly ever just instigate the disappearance of folks when we suspect they might be up to something.
"It's better that 10 guilty men go free than one innocent man be wrongly convicted" or arrested, or charged...
Explosive news (Score:1)
I was blown away by this
Re: (Score:2)
I was blown away by this
I'm surprised he wasn't charged with battery.
USAian here (Score:3)
On the other, I marvel at the sophistication with which most western democracies operate under; the tried and true, rather open, bribery system that is campaign contributions at virtually any level.
Bribery and Embezzlement! (Score:4, Funny)
Why didn't they charge him with battery?
Samsung (Score:2)
Considering Samsung's history, this should be hardly be surprising. Though presidential involvement is a bit, at least in the regard that anything was done about it. Just off the top of my head I can think of two Samsung scandals in the recent past about price fixing and collusion once for memory chips, and another time for LCD's...