Prosecutors issued a warrant for the arrest of the heir to the Samsung Whether Gain in connection with allegations of bribery, perjury and embezzlement.
The movement against the Vice-Chairman of Samsung Electronics Lee Jean Monday is part of an investigation into a massive political corruption scandal, which shook South Korea's political and business elite.
Lee will appear Wednesday before a judge who will decide his fate. If he is found guilty, action will be taken for his detention. The arrest warrant for Lee was issued the same day, Lee was convicted of perjury and abuse of power. The charges are the latest development in far-reaching implications of the scandal, which is associated with South Korean President Park Geun-Hye. Thousands of South Korean protesters took to the streets, prompting lawmakers to vote for the impeachment of the President.
Shares of Samsung Electronics fell nearly 3% shortly after the news of the arrest. Shares fell by about 6% compared with Thursday, when Lee was named as a suspect in a corruption scandal and brought in for questioning. In an unprecedented public scandal, Lee said he did not know about the payments from Samsung to foundations Choi. Samsung has not yet recovered from the humiliating fiasco of smartphones Galaxy Note 7, which have kindled themselves, as the company had suffered new damage.
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