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Samsung's leader arrestedJay Y. Lee, Samsung's vice chairman and acting head, has been arrested and faces charges of perjury, embezzlement and bribing the impeached president of South Korea.
The vice chairman of Samsung was arrested. Sometimes the news is stranger than fiction. A South Korean court approved a warrant for the arrest of Jay Y Lee. Lee, is essentially the acting head of the Samsung group. Lee's father is officially the chairman of Samsung. However, due to the fact that Lee's father is ill, Lee has been serving as the de facto boss of Samsung Jay Y. Lee is believed to be connected to a political scandal in South Korea. He is accused of perjury, embezzlement and bribing impeached President Park Guen-Hye. Samsung made donations to foundations controlled by a friend of President Park. The issue is whether or not they constitute a bribe. Samsung admits it contributed the money, but Lee testified he did not play a role in making those donations. Lee was already in a detention center in Seoul, and will remain there due to the arrest warrant. The warrant was issued because the court believed that there was chance Lee would destroy evidence or flee if he was not arrested. The court rejected to issue a warrant for the head of Samsung electronics, Park Sang-Jin. Park is likely to take on some of Lee's duties while Lee is away. The trial could take as long as 18 months. For more information check out cnet.com. I'm [UNKNOWN], I'll see you online.