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Samsung Chief Lee Jae-yong To Be Arrested On Fraud Charges

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deadline.com
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By Tom Grater International Film Reporter Lee Jae-yong, the powerful South Korean businessman who serves as the de facto head of Samsung, is set to be arrested by the Seoul Central District Prosecutors’ Office after an arrested warrant was filed citing charges of market manipulation and accounting fraud.

Lee is the third wealthiest person in South Korea with a fortune estimated at $7.9BN. He is the eldest son Lee Kun-hee, Samsung’s chairman, and is expected to be his father’s future successor.

According to BusinessKorea, the charges stem from the merger between Samsung C&T and chemical and textiles company Cheil Industries in 2015.

Read more on deadline.com
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