Apr 17, 2017 11:57 AM EDT By Bryan Ke

Ousted South Korean president formally charged in corruption probe

Prosecutors have released formal charges against former South Korean President, Park Geun-hye, over allegations of corruption

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Former South Korean President, Park Geun-hye, has been formally charged after being involved in a corruption scandal that eventually led to her impeachment later in 2016.

According to BBC, prosecutors have charged the ousted South Korean president with bribery, coercion, abuse of power and leaking state secrets. She was also accused of allowing her long-time, close friend Choi Soon-sil to accept money from several big South Korean companies in exchange for political favors.

One of the names that got involved in the scandal was Samsung Electronics' Vice Chairman and de facto chief, Lee Jae-yong. It was recently reported that Lee had lost his seat in the board of directors of Exor, an investment company that is currently the major holder of Fiat Chrysler Automobiles, due to his involvement in the scandal. Lee is reportedly being held at a detention center along with Choi.

Prosecutors also released a formal charge against Lotte Group chairman, Shin Dong-bin, after allegations of bribing Park with money in exchange for government license to open up a new Duty Free shop, ABC reported.

Both Lee and Shin, as BBC reported, have denied the allegations.

Park will reportedly remain in jail and will be escorted to Seoul, South Korea once the trial for the scandal begins. It is being expected to take place in the coming weeks and will last for as long as six months, ABC continued to note.

It is unclear if Park's trial period will begin before May 9's special election day that will determine who will replace her as South Korea's president. No official reports have come out yet regarding the matter.

Park was the first ever female president of South Korea when she was elected in late 2012. The votes for her impeachment was finalized in early December 2016, receiving 234-56 with six abstentions, CNN reported at the time.

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