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Samsung Chief Indicted S. Korea On Charges Related To 2015 Merger

By  |  September 1, 2020

Samsung heir Lee Jae-yong was indicted Tuesday, September 1, on charges of stock price manipulation and other financial crimes, reported Fox News.

The 52-year-old billionaire’s attorneys refuted South Korean prosecutors’ claims, which had also been filed against 10 other current and former Samsung executives and labeled them “one-sided.”

The lawyers asserted that a 2015 merger between two affiliates of the tech company was “normal business activity.” The deal helped Lee to increase power over Samsung Electronics, where he serves as the vice-chairman.

In a statement, Lee’s representation said there are no new charges worth arguing over.