Jay Y Lee
South Korean prosecutors have summoned Samsung Electronics vice chairman Jay Y Lee for questioning in an ongoing investigation into alleged accounting fraud and a controversial 2015 merger of two Samsung affiliates, dealing the latest legal blow to the country’s largest corporation.
The Seoul central district prosecutors office called in Lee, the de facto leader of the Samsung Group conglomerate, at 8am local time on Tuesday in relation to allegations over illegal acts in succession plans, the Yonhap News Agency reported.
Prosecutors are expected to ask the Samsung scion whether there were illegal acts during the merger between Samsung CT and Cheil Industries, regarded as an effort to cement Lee’s control over the conglomerate.
Prosecutors are expected to ask the Samsung scion whether there were illegal acts during the merger between Samsung CT and Cheil Industries
Samsung Group, South Korea’s largest conglomerate grouping more than US$400-billion of market value, has grappled with legal issues for years.
Critics argued that Samsung Group orchestrated the accounting change to benefit the merger of Samsung CT and Cheil Industries, which made Lee the largest shareholder at Samsung’s de facto holding company.
