Jay. Y. Lee, vice president of the Samsung group and current boss, was arrested last night by South Korean judges based on a warrant requested by prosecutors. This was the second time when South Korean prosecutors requested the arrest of the head of the Samsung group, and this time they managed to convince the judges.
Jay. Y. Lee is accused of bribing close associates of the president of South Korea, the corruption scandal being in the attention of the entire country for several weeks. Separately, the prosecutors decided to accuse him of perjury, tax evasion, plus hiding some assets in a foreign country so that the prosecutors could not discover them.
Following the decision of the prosecutors, Jay. Y. Lee was detained in a detention center, and according to the authorities, he is kept alone in a cell with a television and a desk. Of course, after the approval of the arrest request, Samsung's shares fell on the local and international stock markets, the company being affected by this scandal and Jay's conviction. Y. Lee.
The head of Samsung was arrested by the judges
In the next 10 days, the prosecutors must indict Jay. Y. Lee for the crimes he was convicted of, but I can also ask for an extension of the arrest. Regardless of which of the two decisions we are talking about, the judges must decide in both cases if they approve the measures of the prosecutors, so the trials will continue for Jay. Y. Lee.
Jay's lawyers. Y. Lee have not announced whether they will file an appeal against this decision, and the judges have not established any amount that can be paid as bail for release. If she will be established, then Jay. Y. Lee will pay it immediately and be released, but it is not mandatory that it be established by the judges.
"Samsung Group chief Jay Y. Lee was arrested early on Friday over his alleged role in a corruption scandal rocking the highest levels of power in South Korea, dealing a fresh blow to the world's biggest maker of smartphones and memory chips. Prosecutors have up to 10 days to indict Lee, Samsung's third-generation leader, although they can seek an extension. After indictment, a court would be required to make a ruling within three months."
Having said that, Samsung now has much bigger problems than last fall, and Jay's arrest. Y. Lee will seriously affect the company's activity.
