Samsung leader Jay Y. Lee indicted on charges concerning 2015 merger

(VOVWORLD) - South Korean prosecutors indicted the Samsung Group’s Jay Y. Lee on Tuesday on suspicion of accounting fraud and stock price manipulation in connection with a 2015 merger, dealing a new blow to the head of one of Asia’s most valuable companies.

Lee, who has already served jail time in connection with a separate case, and 10 other current and former Samsung executives were indicted over the merger of two Samsung affiliates that helped Lee assume greater control of the group’s crown jewel, Samsung Electronics.

The indictment paves the way for 52-year-old Lee to undergo trial on the allegations.

Shares of major Samsung firms were largely unperturbed by the announcement.

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