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Seoul’s Central District Prosecutors’ Office mentioned at a briefing that 11 executives from Samsung, together with Lee, have been indicted on expenses together with unlawful transactions, inventory manipulation and perjury. Lee and the executives had been indicted with out detention, which suggests they weren’t taken into custody.
Lawyers for Samsung denied the fees, saying in a press release that they’re “one-sided claims by the investigation team that are not based on evidence and law, and by no means true.”
Last August, South Korea’s high court docket ordered a brand new trial for Lee, reigniting the bribery allegations and elevating issues that the expertise scion could possibly be despatched again to jail. That case remains to be ongoing.
Prosecutors on Tuesday mentioned the 2015 merger of Samsung C&T and Cheil Industries was undertaken in a way that allegedly benefited Lee and allowed him to realize a tighter grip on Samsung Electronics, the crown jewel of his household’s sprawling conglomerate.
During the merger, prosecutors allege that Lee and his executives illegally unfold false info, carried out unlawful lobbying and manipulated inventory costs.
But Samsung’s legal professionals say that interrogations and former associated instances have confirmed that the merger was carried out in compliance with authorities rules.
The newest investigation was carried out “with the aim of prosecuting Lee Jae-yong from the beginning, rather than seeking the actual truth according to evidence,” the legal professionals mentioned.
Shares in Samsung Electronics ended the day up 0.4%.
Lee has been the de facto chief of Samsung since his father was left incapacitated by a coronary heart assault in 2014.
— Sherisse Pham contributed to this report.
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