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South Korea seeks arrest of Samsung heir in succession probe
Published in Amwal Al Ghad on 04 - 06 - 2020

South Korean prosecutors have requested an arrest warrant against Samsung Group heir Jay Y. Lee, they said on Thursday, in the investigation of a controversial 2015 merger and alleged accounting fraud in a suspected bid to aid his succession plans.
The move spells fresh trouble for Lee, who, if arrested, faces a return to jail just a little over two years after being released from detention in February 2018.
Lee already faces trial on a charge of bribery aimed at winning support to succeed ailing group patriarch Lee Kun-hee, and which involved former President Park Geun-hye, and spent a year in detention until the bribery case was suspended in 2018.
Prosecutors said they sought Lee's arrest on suspicions of stock price manipulation and audit rule violations, among other offences.
In a statement, Lee's lawyers expressed "deep regret" at the prosecution's decision to seek his arrest, adding that he had fully cooperated with the investigation while Samsung was going through management crises.
Shares of Samsung Electronics were up 0.4%, outperforming a rise of 0.2% in the benchmark KOSPI.


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