08 Jun 2020
Lee Jae-yong, Samsung Electronics vice chairman and the de facto leader of the Samsung Group conglomerate, may soon find himself back in jail. Prosecutors are seeking an arrest warrant against Lee, known as Jay Y. Lee in the West, arguing that he should be detained while they investigate new allegations against him.
The new legal controversy involves the 2015 merger of two Samsung Group companies, Cheil Industries and Samsung C&T. Lee is accused of accounting fraud that allegedly could have helped him gain more power over the sprawling chaebol. Samsung last week said it was “beyond common sense” to suggest that Lee was directly involved, according to Reuters.
Lee attended a hearing this morning in Seoul and is currently waiting to find out if he will be re-arrested. Courts can order detention of up to 20 days before prosecutors need to file charges, at which point the suspect can be held for up to six months. A decision is expected today or tomorrow.
By Sam Byford, The Verge, 8 June 2020
Read more at The Verge
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