Samsung chief Jay Y. Lee arrested in corruption scandal

Samsung Group chief Jay Y. Lee has been arrested for his alleged role in a corruption scandal dealing yet another blow to the world's biggest smartphone maker. The 48-year old heir of the Lee dynasty was taken into custody at the Seoul Detention Center.

Prosecutors allege that Jay Y. Lee pledged tens of millions of dollars to win favour with President Park Geun-Hye and secure government support for a controversial merger that helped tighten his reigns on Samsung.

This also led to Parliament impeaching President Park Geun-Hye in December, a decision that if upheld by the Constitutional Court would make her the country's first democratically elected leader forced out from the office.

The prosecution is accusing Lee of bribery, perjury, concealing criminal profits, embezzlement and hiding assets overseas.The prosecutors first sought to arrest Lee in January, but a judge turned down that request, citing lack of proof.

Samsung Electronics President Park Sang-jin, whose arrest was also requested last month, managed to come clean this time as well. The court said that Park’s arrest was not needed in light of his “position, the boundary of his authority and his actual role”.

"We acknowledge the cause and necessity of the arrest," a judge said in his ruling, citing additional allegations and evidence.

Both Samsung and Lee have denied the allegations. "We will do our best to ensure that the truth is revealed in future court proceedings," Samsung said in a statement Friday after the judge approved the arrest warrant for Lee.

Samsung Electronics shares fell as much as 2 percent in Seoul after Lee was arrested.