Samsung Heir's Fate at Risk

The Seoul Central District Court said on June 4 that it will review the arrest warrant for Samsung Electronics vice chairman Lee Jae-yong at 10:30 a.m. on June 8.

The court's decision on whether to arrest Lee is expected to come out late in the day or early next morning.

The court will also review arrest warrants for two other former executives of Samsung Group -- Choi Ji-sung, former head of the group’s Future Strategy Office, and Kim Jong-joong, former head of the U.S. strategy team.

Earlier in the day, the Seoul Central District Prosecutors' Office filed for arrest warrants for Lee and the two former executives on charges of unfair trading, price manipulation and accounting fraud.

The prosecutors' move was a surprise as it followed a request from Lee that the prosecution convene an investigation review committee so that external experts, such as lawyers and law professors, not prosecutors, can determine the validity of his indictment.

Prosecutors suspect that Lee and the two other former executives intentionally lowered the value of Samsung C&T while inflating that of Cheil Industries ahead of the merger of the two Samsung affiliates, to facilitate the transfer of the group's managerial control to Lee.

Lee strongly denied the allegations during the prosecution's questioning earlier this week.



 

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