Feb 18, 2017
By Bob Sheppard
The biilionaire heir to the Samsung fortune has been arrested on charges of bribary and other white collar crimes.
Forty-eight year-old Lee Jae-yong is a vice chairman at South Korea’s giant Samsung Electronics. He’s the de facto leader of the company and only son of Lee Kun-hee, Samsung’s chairman.
An arrest warrent issued by the Seoul District Court sent shockwaves through the country’s business community, dominated by “chaebol,” the family controlled business conglomerates that virtually control South Korea’s economy.
Traditionally the legal system has been lenient with them because of their contributions to the economy.