Mar 02, 2017 12:59 AM EST
South Korean prosecutors have indicted Samsung's heir apparent Lee Jae-yong, de facto chief of the giant South Korean conglomerate, on multiple charges which include bribery and embezzlement.
Four other executives at Samsung were also charged with bribery and other crimes. Three of them resigned on Tuesday after the announcement.
Lee's and the other four executives' case is tied to the political corruption scandal that led to the impeachment of the country's president Park Geun-hye.
The technology giant's vice chair was arrested on Feb. 17 over his alleged role in that scandal and has been in custody since.
Samsung has been accused of giving 41 billion won or $36 million in money and favors to non-profit foundations operated by Choi Soon-sil, a friend of Park's. It was alleged this was supposed to secure government support of a merger deal between two Samsung affiliates in 2015, support for the restructuring that would help a smooth transition of leadership in favor of Lee.
The prosecutors are accusing Lee of bribery, perjury, concealing criminal profits, embezzlement and hiding assets overseas.
Samsung and Lee denied the allegations.
The electronics giant has said it has shut down its corporate strategy office amid accusations of bribery. The corporate strategy office coordinates plan for the conglomerate's various businesses.
According to a statement from Samsung, three of the top group executives include vice chair Choi Gee-sung and president Chang Choong-ki.
The electronics giant has mentioned it will try to clear Lee's name at trial, but did not make comments immediately during his indictment on Tuesday. It is part of the system in South Korea that when a suspect was formally arrested, an indictment follows automatically, unless an evidence would emerge that would prove the person's innocence.
Lee, 48, has been running the company since his father had a heart attack in 2014.
People who travel for business two weeks or more a month report more symptoms of anxiety and depression and are more likely to smoke, be sedentary and report trouble sleeping than those who travel one to six nights a month, according to a latest study conducted by researchers at Columbia University's Mailman School of Public Health and City University of New York.
President Trump said Friday he is declaring a national emergency on the southern border, tapping into executive powers in a bid to divert billions toward construction of a wall even as he plans to sign a funding package that includes just $1.4 billion for border security.
Amazon's decision to abandon plans to build a new campus in Long Island City, Queens, has drawn cheers from several politicians, community organizers and other locals opposed to the expansion.
One of the hottest topics at the World Economic Forum in Davos, Switzerland has been Alexandria Ocasio-Cortez's proposed 70% marginal tax rate on all income above $10 million.
In recent decades, Europe has experienced a downward trend in the annual number of deaths. Not only was this trend not arrested by the economic recession that started in 2008, in fact, the rate of decline increased during the recession years.
Discovering that your new designer handbag or gold watch is a fake is costly and annoying, and counterfeit medical devices or drugs could have even more serious consequences. But seemingly as soon as manufacturers develop a new method to ensure product authenticity, counterfeiters find a way to outsmart it. Now, researchers have created an "unclonable" tag that can never be replicated, even by the manufacturer. They report their results in ACS Applied Materials & Interfaces.
The traditional model for setting auto insurance premiums has been to base rates on the motorist's driving history, age, gender and even marital status (in some states). Thanks to new technological options, insurance companies, and motorists have started to work together to give the insurance companies access to better data on an individual driver's risk level, and give the same driver a sense of greater control over how much he or she will pay in insurance premiums.
Consumer brands have long used old-fashioned focus groups, interviews and surveys to best gauge consumer wants, desires and needs as part of processes that range from product development, to marketing and sales. As machine learning and artificial intelligence (AI) have emerged, there is an increasing interest in the ability to harness these solutions to save time and money, and to yield more reliable consumer insights.