Samsung Group heir Jay Y. Lee on Monday arrived at a South Korean court which will rule whether he will be sent back to jail after more than two years of freedom, as new allegations dog the executive and cast a pall over the country's top conglomerate.
SEOUL - Samsung Group heir Jay Y. Lee on Monday arrived at a South Korean court which will rule whether he will be sent back to jail after more than two years of freedom, as new allegations dog the executive and cast a pall over the country’s top conglomerate.
Prosecutors on Thursday asked the court to issue an arrest warrant against Lee, culminating a probe into accounting fraud and a controversial 2015 merger of two Samsung affiliates that they said helped facilitate Lee’s plan to assume greater control of the group. After the hearing, he is expected to head to a detention centre to await the judge’s decision, expected on Monday or early Tuesday.
In a further statement over the weekend, the group said the lengthy probe is weighing on management, which is in a “crisis” at a time when the coronavirus pandemic and U.S.-China trade disputes are adding to uncertainty.He served in jail for about one year until Feb. 2018 for his role in a bribery scandal in which he was accused of giving horses as gifts to win support from the government of former President Park Geun-hye for the merger.
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