Samsung’s vice chairman Lee Jae-yong has been arrested over charges of bribery, perjury, and embezzlement, according to a report by Bloomberg.
The report stated that the Seoul Central District Court issued a warrant for Lee’s arrest early on Friday. The subsequent trial and verdict may take up to 18 months.
“Investigators are looking into whether Lee Jae-yong was involved in providing… $38 million to benefit a close friend of South Korean President Park Geun-hye, in exchange for government support,” stated Bloomberg.
The report stated that Lee Jae-yong will remain at a detention centre in Seoul.