Hasta La Creative!

Samsung Group’s Jay Y. Lee was formally arrested on allegations of bribery, perjury and embezzlement, an extraordinary step that jeopardizes the executive’s ascent to the top role at the world’s biggest smartphone maker.

The Seoul Central District Court issued the warrant for Mr. Lee’s arrest early Friday. Including procedural steps and appeals, it may take as long as 18 months for a trial and verdict. The decision was made because of the risk that he might destroy evidence or flee, a court spokesperson said.

Investigators are looking into whether the vice chairman of Samsung Electronics Co. was involved in providing as much as $38 million to benefit a close friend of South Korean President Park Geun-hye, in exchange for government support of his management succession. Prosecutors allege that Mr. Lee, 48, funded Ms. Park’s associates as he tried to consolidate control over the sprawling conglomerate founded by his grandfather.

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