Prosecutors summon Samsung heir over merger, accounting probes

📆 5/26/2020 5:38 AM
📰 The Straits Times

⏱ Reading Time:
22 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

SEOUL (BLOOMBERG) - South Korean prosecutors have summoned Samsung Electronics vice chairman Jay Y. Lee for questioning in an ongoing investigation into alleged accounting fraud and a controversial 2015 merger of two Samsung affiliates, dealing the latest legal blow to the country's largest corporation.. Read more at straitstimes.com.

SEOUL - South Korean prosecutors have summoned Samsung Electronics vice chairman Jay Y. Lee for questioning in an ongoing investigation into alleged accounting fraud and a controversial 2015 merger of two Samsung affiliates, dealing the latest legal blow to the country's largest corporation.

Prosecutors are expected to ask the Samsung scion whether there were illegal acts during the merger between Samsung C&T Corp and Cheil Industries, regarded as an effort to cement Lee's control over the conglomerate. They're also likely to interrogate the heir about allegations of financial fraud at Samsung Biologics Co. A Samsung Electronics spokeswoman didn't have immediate comment when contacted.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nissan and Renault shelve merger plans to repair their alliance: sourcesREUTERS: Renault and Nissan have shelved plans to push towards the full merger former leader Carlos Ghosn craved and will instead fix their ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Nissan and Renault shelve merger plans to repair their allianceFRANCE: Renault and Nissan have shelved plans to push towards the full merger former leader Carlos Ghosn craved and will instead fix their ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »