A special prosecutor on Monday said it would seek a warrant to arrest the third-generation leader of the country’s largest conglomerate on suspicion of bribery, embezzlement and perjury. Earlier this week, the special prosecutor indicted the chairman of the National Pension Service (NPS), the world’s third-largest pension fund, on charges of abuse of power and giving false testimony. NPS chairman Moon Hyung-pyo was arrested in December after acknowledging ordering it to support the controversial $8 billion merger in 2015 of two Samsung Group affiliates while heading the health ministry, which oversees the NPS. Jay Y. Lee became the group’s de facto leader after his father, Lee Kun-hee, was incapacitated by a 2014 heart attack. On Tuesday, the special prosecutor’s office said it did not seek arrest warrants for three other Samsung Group executives that also underwent questioning, in order to minimise the impact on Samsung business.

Source: New Strait Times January 18, 2017 00:55 UTC