Samsung chief’s ‘trial of the century’ to start out subsequent week | Information

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SEOUL Samsung Group chief Jay Y. Lee will go on trial for bribery and embezzlement on Thursday, a courtroom stated, amid a corruption scandal that has rocked South Korea and led to the impeachment of the president.

Lee, the 48-year-old third-generation chief of the nation’s prime conglomerate, was indicted on Tuesday on costs together with pledging 43 billion gained ($37.24 million) in funds to a confidant of President Park Geun-hye.

“We’re getting ready exhausting, pondering that the upcoming Samsung trial … may very well be the trial of the century that the whole world will probably be watching,” particular prosecutor Park Younger-soo informed reporters.

The Samsung scion’s listening to will probably be held in a courtroom that may accommodate greater than 150 folks, based on the Seoul Central District Court docket’s courtroom database.

Lee, who was arrested on Feb. 17, was charged with bribery and embezzlement in a case that has dealt a blow to the usual bearer for Asia’s fourth-largest financial system.

Samsung Group declined to remark however has denied wrongdoing.

Among the many costs in opposition to Lee are pledging bribes to an organization and organizations tied to Park’s confidant, Choi Quickly-sil, the lady on the heart of the scandal, to cement his management of the smartphones-to-biopharmaceuticals enterprise empire.

The funding additionally included Samsung’s sponsorship of the equestrian profession of Choi’s daughter, prosecutors say.

Laws appointing the particular prosecutor states that the trial needs to be completed in three months.

President Park, 65, daughter of a former army strongman, has had her powers suspended since her impeachment by parliament in December.

Ought to the Constitutional Court docket uphold the impeachment, she would change into the nation’s first democratically elected president to be thrown out of workplace.

A call is anticipated this month.

(Reporting by Ju-min Park, further reporting by Se Younger Lee, Enhancing by Nick Macfie)