While in The Netherlands it's the Eurocommerce fraude claim that is now at court, in South Korea prosecutors raided the offices of Samsung Electronics last tuesday. This as part of an investigation into a presidential cronyism scandal. Samsung is suspected of giving 3 million dollars in secret to support the equestrain training and Olympic dreams of Choi Soon-Sil's 20 year old daughter Chung Yoo-ra. Choi is currently in jail on charges of abuse of power and fraud. Enriching herself may have included her family, which is where Samsung comes in. There are some connections between the company and equestrian activities. The Korea Joongang Daily reports:
Prosecutors and the company have confirmed the raid but made no further comment. Samsung being a Korean chaebol, and 'raiding chaebols' being a common practice here, this isn't the first time. Local media video indicates Samsung cooperated with Tuesday's raid, which is part of a criminal investigation. It's just one part of a much larger domestic scandal, for now. Globally, Samsung has bigger brand worries to consume it, as it continues to apologize for its fire-prone Galaxy Note 7 phones, which were completely pulled from the market last month for safety reasons. Read the full story on NPR"Samsung Electronics CEO Park [Sang-jin] is president of the Korean Equestrian Foundation (KEF), whose headquarters was also raided Tuesday morning. Prosecutors suspect some of 3.5 billion won [$3 million] sent by the company was spent on purchasing a horse and arranging a training session for Choi's daughter Chung Yoo-ra, a dressage athlete."
While in The Netherlands it's the Eurocommerce fraude claim that is now at court, in South Korea prosecutors raided the offices of Samsung Electronics last tuesday. This as part of an investigation into a presidential cronyism scandal. Samsung is suspected of giving 3 million dollars in secret to support the equestrain training and Olympic dreams of Choi Soon-Sil's 20 year old daughter Chung Yoo-ra. Choi is currently in jail on charges of abuse of power and fraud. Enriching herself may have included her family, which is where Samsung comes in. There are some connections between the company and equestrian activities. The Korea Joongang Daily reports:
Prosecutors and the company have confirmed the raid but made no further comment. Samsung being a Korean chaebol, and 'raiding chaebols' being a common practice here, this isn't the first time. Local media video indicates Samsung cooperated with Tuesday's raid, which is part of a criminal investigation. It's just one part of a much larger domestic scandal, for now. Globally, Samsung has bigger brand worries to consume it, as it continues to apologize for its fire-prone Galaxy Note 7 phones, which were completely pulled from the market last month for safety reasons. Read the full story on NPR"Samsung Electronics CEO Park [Sang-jin] is president of the Korean Equestrian Foundation (KEF), whose headquarters was also raided Tuesday morning. Prosecutors suspect some of 3.5 billion won [$3 million] sent by the company was spent on purchasing a horse and arranging a training session for Choi's daughter Chung Yoo-ra, a dressage athlete."