The company Samsung has paid the confidant of the President of the Republic of South Korea over one billion crowns. The money served as bribes to one of the country's most powerful women, who were able to secure benefits for Samsung and approve various acquisitions of smaller companies without much scrutiny from the antitrust authorities.
The prosecutor wanted to send one of the richest men in the country and the world in general to prison already in January, but he did not succeed then. Only this week, the court decided to issue an arrest warrant for the head of the Samsung Group and immediately sent him into custody. It is the head of Samsung who is the main architect of the scandal that led to the ouster of President Park Geun-hye. According to his own words, the bribes that Samsung boss Jay Y. Lee had to send to the president's confidant in order for his company to receive state support exceeded one billion crowns.
Last month, Jae-yong declared directly in front of parliament that he had to send money and gifts to the president's confidant, otherwise the company would not have state support. In addition, if you remember the embarrassing handbags for Jana Nagyová, the president's confidant was really high. For example, Samsung supported her daughter's equestrian training in Germany with $18 million and donated more than $17 million to foundations that were supposed to be non-profit, but according to investigators, the trustee used them for her own needs. Another tens of millions of dollars then went directly to the trustee's accounts.
However, the case of the well-known businessman is just beginning, because Jay Y. Lee is also accused of concealing profits from criminal activity. It is quite strange that a person who leads the entire conglomerate Samsung Group and is the vice-chairman of the subsidiary Samsung Electronics needed to make extra money on the side. South Korean police and prosecutors are now considering issuing arrest warrants for a number of other Samsung executives as well. We will follow how the whole case turns out in the end, and of course we will always bring new ones informace.
