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Prosecutors summon Samsung heir over merger, accounting probes

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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.

 

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