South Korean court denies arrest warrant request for Samsung heir Jay Y. Lee GlobeBusiness
Samsung Group heir Jay Y. Lee arrives for a court hearing to review a detention warrant request against him at the Seoul Central District Court in Seoul, South Korea, June 8, 2020.A South Korean court on Tuesday denied an arrest warrant request for Samsung Group heir Jay Y. Lee after prosecutors accused him of accounting fraud and stock manipulation.
“It appears that prosecutors have secured considerable amount of evidence through their investigation, but they fell short of explaining the validity to detain Lee,” the Seoul Central District Court said in a statement.The court’s denial of Lee’s arrest comes amid allegations he was involved in illegal transactions and stock manipulation that furthered the $8 billion merger of affiliates Samsung C&T and Cheil Industries in 2015.
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