Prosecutors seek five year sentence for Samsung chief in controversial merger case
The Statesman|November 26, 2024
Prosecutors on Monday demanded a five-year prison sentence for Samsung Electronics Chairman Lee Jaeyong in an appeal against a court decision that acquitted the chairman over the controversial 2015 merger of two Samsung affiliates.
Prosecutors seek five year sentence for Samsung chief in controversial merger case

Prosecutors also requested a fine of 500 million won ($356,552) for Lee during the final hearing at the Seoul High Court, reports Yonhap news agency.

Lee was indicted in September 2020 on charges of stock price rigging, breach of duty and accounting fraud in the course of the controversial 2015 merger of two Samsung affiliates, Cheil Industries and Samsung C&T Corp.

The merger, where three Samsung C&T shares were offered for one Cheil share, helped Lee tighten his control of Samsung C&T, the de facto holding company for Samsung Group, through his 23.2 percent stake in Cheil.

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