South Korean prosecutors indict Samsung’s de facto chief
SEOUL, Korea, Republic Of — South Korean special prosecutors indicted 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 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 announcement of the indictment came after a three-month investigation by a special prosecution team that ended Tuesday after the country’s acting leader refused a request for an extension.
Shortly after the announcement, Samsung said several top executives also facing criminal charges will resign from their positions and leave Samsung.