South Korea: Samsung heir charged with fraud over succession-linked deal

South Korean prosecutors indicted the heir to the Samsung empire Tuesday over a controversial merger of two business units seen as a key step towards his succession, in the latest legal blow to the sprawling conglomerate.

Lee Jae-yong, the vice-chairman of Samsung Electronics, committed stock manipulation, breach of trust, and other offences when two other subsidiaries, Samsung C&T and Cheil Industries, merged in 2015, the prosecutors said.

Ten other current and former top Samsung executives were also charged.

Lee is already separately being re-tried on charges of bribery, embezzlement, and other offences in connection with the corruption scandal that brought down former South Korean President Park Geun-Hye.

This article has been summarised, the original full article can be found at freemalaysiatoday.com

(Photo: Bloomberg)

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