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Samsung's vice president Lee Jae-yong to be indicted on corruption charges

Samsung's vice president Lee Jae-yong to be indicted on corruption chargesSouth Korean special prosecutors said they would indict Samsung's de facto chief Tuesday on bribery, embezzlement and other charges linked to a political scandal that has toppled President Park Geun-hye.

This is reported by Associated Press.

The announcements of the planned indictments came after a three-month investigation by the special prosecution team, which ended Tuesday after the country's acting leader refused a request for an extension.

Prosecutors say the Samsung heir gave bribes worth $36 million to Park and her confidante to help win government support for a smooth leadership transfer from Lee's ailing father to Lee.

Lee also allegedly hid assets overseas, concealed proceeds from criminal activities and committed perjury. The 48-year-old billionaire was arrested Feb. 17. Samsung has denied wrongdoing.

Prosecutors also said they planned to indict four other Samsung executives on charges of offering bribes, embezzlement, hiding assets overseas and concealing proceeds from criminal activities.
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