Prosecutors Request Arrest Warrant for Vice Chairman Lee Jae-yong on Charges of Accounting Fraud and Market Manipulation
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[Asia Economy Reporter Kim Hyung-min] The prosecution investigating allegations surrounding the merger of Samsung C&T and Cheil Industries and the succession of Samsung's management rights filed an arrest warrant for Samsung Electronics Vice Chairman Lee Jae-yong (52) on the 4th.
The Economic Crime Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Bok-hyun) submitted the arrest warrant application to the court on the morning of the same day for Vice Chairman Lee, former Samsung Future Strategy Office Chief Choi Ji-sung (69), and former Future Strategy Office Strategy Team Leader Kim Jong-joong (64).
Vice Chairman Lee and others were charged with violations of the Capital Markets Act related to unfair trading and market manipulation, as well as violations of the Act on External Audit of Stock Companies. Former President Kim faced additional charges of perjury.
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Vice Chairman Lee and former President Kim requested the Seoul Central District Prosecutors' Office on the 2nd to convene the Prosecution Investigation Deliberation Committee to assess the appropriateness of prosecution.
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