Saturday, February 25, 2017

Samsung's Group billionaire chief Jay Y. Lee has been arrested


Samsung's Group billionaire chief Jay Y. Lee has been arrested. Jay Lee was arrested on suspicion of bribery, in connection to a widespread corruption scandal, that led to impeachment of South Korea's president.

Lee has a net worth of $6.2 Billion, And usually lives in a $4 million mansion, But he is now living in a single, 71 Square foot jail cell. with a mattress on the floor, and no shower. He is also not allowed any contact with other inmates.

Officials say it's for safety issues, And so he can't discuss the case with others arrested in the scandal. Prosecutors have up to 10 days to indict Lee.


Lee Jae-yong (businessman)

Lee Jae-yong (이재용; born 23 June 1968), known professionally in the West as Jay Y. Lee, is a South Korean business magnate and the vice chairman of Samsung Group, serving as de facto head. He is the eldest child and only son of Lee Kun-hee, Chairman of Samsung, and is widely considered to be the future successor to his father's position. He is referred to as the "Crown Prince of Samsung" by the South Korean media, and speaks Korean, English and Japanese. Lee is estimated to be worth US$7.9 billion, making him the third wealthiest person in South Korea.
In 2014, Lee was named the world's 35th most powerful person and the most powerful Korean by Forbes Magazine's List of The World's Most Powerful People along with his father Lee Kun-hee.
In January 2017, Lee was accused "of bribery, embezzlement and perjury" by South Korean prosecutor's office. Albeit having the arrest warrant denied by the Seoul court in mid-January, after a month of investigation, he was arrested on the night of February 16, 2017.
Source: Wikipedia