SEOUL, South Korea (AP) – South Korean special prosecutors said they would indict Samsung’s de facto chief Tuesday on bribery, embezzlement and other charges linked to a political scandal that has toppled President Park Geun-hye.
The planned indictment of Samsung Electronics vice chairman Lee Jae-yong is a huge hit for the largest and most successful of the big businesses that dominate the South Korean economy. It also signals the still roiling state of South Korea’s political and economic circles after weeks of massive demonstrations that led to Park’s impeachment.
The announcements of the planned indictments came after a three-month investigation by the special prosecution team, which ended Tuesday after the country’s acting leader refused a request for an extension.
Prosecutors say the Samsung heir gave bribes worth $36 million to Park and her confidante to help win government support for a smooth leadership transfer from Lee’s ailing father to Lee.
Lee also allegedly hid assets overseas, concealed proceeds from criminal activities and committed perjury. The 48-year-old billionaire was arrested Feb. 17. Samsung has denied wrongdoing.