Special prosecutors in South Korea announced they will charge Samsung heir apparent Lee Jae-yong and four other executives with bribery and embezzlement.  A guilty verdict could put one of the country's most-powerful corporate leaders in jail for several years.

"The five executives will face charges including bribery, embezzlement and hiding assets overseas," said Lee Kyu-chul, a spokesman for the special prosecutor.  Lee, known in the West as Jay Y. Lee, will also be charged with committing perjury before parliament.

It's almost impossible to overstate the importance of Samsung in Asia's fourth-largest economy.  The country is jokingly referred to as the Republic of Samsung, and Lee has been effectively running the conglomerate since his father was hospitalized almost three years ago.  But that charmed life is in danger of crashing over Lee's alleged US$36 Million payment to Choi Soon-sil - a confidante of President Park Geun-hye - in return for the government's support for a crucial merger of two Samsung affiliates in 2015.

Ms. Choi is already on trial for allegedly extracting pay-to-play fees from other major South Korean businesses.  She pleaded not guilty to bribery, coercion, and abuse of power charges.  President Park is awaiting the Constitutional Court's decision on whether to uphold the National Assembly's motion to oust the president over her alleged role in the scandal.