Authorities arrested Lee Jae-yong, de facto leader of Samsung, in Seoul, South Korea on allegations of bribery, perjury, and embezzlement. Reports show that the Lee Jae-yong net worth is at least six billion (U.S. dollars) as of 2017. The Seoul Central District Court issued the warrant for arrest for Lee which included procedural steps and appeals.
According to Independent, the trial and verdict for Lee’s case might take as long as 18 months. The court decided to arrest Lee because of the flight risk and the possible destruction of evidence used against him. Reports show that Lee allegedly provided South Korean President Park Geun-hye with 43bn Won for government support.
Lee will remain under the custody of a detention center in Seoul while waits for the court’s decision in his case. Meanwhile, the court rejected the request of the prosecutor to arrest Samsung Electronics President Park Sang-Jin. Park might assume Lee’s responsibilities while Lee undergoes detention pending the outcome of his case.
Five Facts About The Lee Jae-yong Net Worth & Arrest
1. First Leader of Country’s Largest Business Group To Be Arrested
One of the little-known facts about Lee’s arrest is that he is the first leader of the country’s largest business group to be detained. Considering that the Lee Jae-yong net worth amounts to north of six billion U.S. Dollars this year, he is considered as one of the richest people in South Korea.
2. Other Crimes Committed
Other than the crimes charged against Lee, prosecutors suspected him of promising the said 43bn Won for the government’s backing of a merger of two Samsung affiliates in 2015. The said arrangement became critical in the company since it paved way for the successful management succession of Lee Kun-hee to Lee-Jae Yong.
3. Involvement Of Park & Choi
Meanwhile, the scandal centers on Choi, allegedly forced local firms to donate at least US$70 million to non-profit firms. Choi, with her close ties with Park, allegedly used the said money for personal gain. Another fact includes that cell where the authorities have currently detained Lee in Seoul, South Korea.
4. Different Cell
According to detention center officials, Lee swapped his mansion in Seoul so that authorities would place him in a 6.65 square meter cell equipped with a mattress, TV and a toilet. Unlike other prisoners, authorities did not allow him to have any contact with other detainees. According to Economic Times, authorities forced Lee to make the said trade.
5. Same Treatment Like Other Prisoners
Despite the detainment in a different cell, Lee eats the same food the other prisoners eat. Lee also wears the same inmates uniform and has only access to one channel on his TV. Lee has to clean his own plate after eating, has to sleep in his folding mattress, and has to abide by other rules in the center.