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Prosecutor: Samsung boss bribed S. Korean president

SEOUL South Korea's President Park Geun Hye colluded with her friend Choi Soon Sil to receive bribes from Samsung Group aimed at cementing Samsung chief Jay Y. Lee's control of the company, a special prosecutor said in a statement yesterday.

In a statement detailing the findings of its investigation, the special prosecutor's office said the National Pension Service voted in favour of a merger of two Samsung Group affiliates in 2015, despite anticipating a 138.8 billion won (S$169.76 million) loss.

"Samsung Group vice-chairman Lee Jae Yong colluded with others including the corporate strategy office chief Choi Gee Sung to bribe the president and Choi Soon Sil with an aim to receive support for his succession by embezzling corporate funds," special prosecutor Park Young Soo said.

Park Geun Hye, Choi Soon Sil and Jay Y. Lee have all denied wrongdoing. - REUTERS

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