Samsung is one of the biggest names when it comes to the world of smartphone technology not only in their home country of South Korea, but globally. The company has been caught amid a major scandal in the past few months, where allegations of corruption have been made at them. Amid many legal battles, Samsung also faces the challenge to keep up their business empire. Samsung had quite a disastrous second half of 2016 with the Samsung Galaxy Note 7 catching fire. Today, Samsung heir Lee Jae-yong found himself in a courtroom in a hearing where the decision regarding his arrest warrant was to be made.
The prosecutors had made a request to arrest Lee Jae-yong back in January, but this was rejected. Following this, the investigation has been going on, and after today’s hearing, more details are likely to be out by Friday morning on the fate of the Samsung heir. Lee Jae-yong is also being investigated on embezzlement of funds, hiding assets, as well as lying under oath. If the court does find him guilty, Lee will be taken to a custody for up to 21 days following which the charges can be pressed against him.
Lee was questioned for 15 hours on Tuesday, as a part of this investigation. This is one of the rare cases where a high-profile figure such as Lee Jae-yong is one of the prime suspects of corruption. If proven to be true, this will cause a major dent in Samsung’s goodwill. At the moment Samsung has declined to comment on the results.
Lee Jae-yong has been accused of giving major bribes to the South Korean President. The amount of these bribes is up to the tune of $36 Million. It will be interesting to see what the court announces on Friday morning. Samsung is indeed in quite a pickle!