The South Korean judiciary has re-indicted Samsung vice-president Lee Jae-yong. He is suspected of accounting fraud and breaking the rules around a merger in 2015. Earlier, Lee was jailed for his role in a bribery scandal.
Lee is now being sued for tampering with share prices in a merger of two Samsung subsidiaries in 2015. One of the companies would have deliberately lowered the value of the company. As a result, Lee gained more control over the Samsung group and the Samsung Electronics division, which is seen as the company’s crown jewel.
Horses as a gift
Lee was suspected of bribery in the past. He is said to have given horses as a gift to a confidant of the former president Park Geun-hye, in exchange for the South Korean government’s support for the merger. Prior to that, Lee had been in prison for a year. His father Lee Kun-hee, chairman of Samsung, was also imprisoned for corruption.
Lee has not yet been arrested. The prosecutors had asked for a warrant, but that was rejected by the judge. The judge did say that there is enough evidence against Lee. It is not yet clear what sentence Lee will get if he is convicted.