South Korean prosecutors have banned Samsung Electronics Vice Chairman Lee Jae Yong from overseas travel for his alleged connection with the wide-ranging corruption scandal involving South Korean President Park Geun-hye and her close friend Choi Soon-sil.
Along with Lee, who is heir to the Samsung family fortune, and two other major corporate leaders have been forbidden from traveling abroad including SK Group Chairman Chey Tae-won and Lotte Group Chairman Shin Dong-bin.
The executives are suspected to have “donated” millions of dollars to varied foundations under Choi’s control in return for her influence in the executive branch.
According to the Korea Times:
The three tycoons have admitted they made cash donations to the foundations — Mir and K-Sports Foundation — which allegedly served as Choi’s “personal ATMs.” But they claim it was made for a “good cause,” not a bribe.
Samsung made the biggest donation of some 20 billion won to the foundations. The biggest conglomerate in South Korea allegedly spent billions of won to buy a horse for Choi’s daughter, Chung Yu-ra, an equestrian representing the nation in many international sporting events, and sponsored her training in Germany.
The post Vice Chairman of Samsung Banned from Leaving Korea appeared first on Haps Magazine.