Prosecutors are seeking an arrest warrant for Samsung's heir apparent over allegations of bribery, perjury and embezzlement. The move against Samsung Electronics Vice Chairman Lee Jae-yong on Monday is part of an investigation into a massive political corruption scandal that has shaken South Korea's political and business elites. Lee is now set to appear Wednesday before a judge who will decide whether the arrest warrant is valid. Related: South Korea presidential scandal: What you need to knowSamsung Electronics stock dropped 2.1% after the news of the arrest warrant. Correction: An earlier version of this story misstated the status of the arrest warrant for Lee Jae-yong.

Source: CNN January 16, 2017 05:03 UTC