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Home /  World  /  South Korean prosecutors seek arrest warrant for Samsung heir

South Korean prosecutors seek arrest warrant for Samsung heir

Seoul South Korean prosecutors are seeking an arrest warrant for Samsung Group heir Lee Jae Yon, as part of an investigation into a controversial merger between two group units five years ago, local media reported on Thursday.
The Seoul prosecutor’s office said that it was seeking arrest warrants for Lee and two former executives, Choi Gee Sung and Kim Jong Joong.
The suspects are expected to appear before a magistrate on Friday.
They are suspected of involvement in a scheme to pave the way for Lee’s succession of his ailing father by inflating the value of Cheil Industries and lowering the value of Samsung C&T prior to their merger in 2015, the Yonhap news agency reported.
Lee was the largest shareholder in Cheil Industries with a stake of 23.2 per cent. (DPA)

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