SEOUL (Reuters) – A South Korean court on Tuesday denied an arrest warrant request for Samsung Group heir Jay Y. Lee after prosecutors accused him of accounting fraud and stock manipulation.
Samsung Group heir Jay Y. Lee arrives for a court hearing to review a detention warrant request against him at the Seoul Central District Court in Seoul, South Korea, June 8, 2020. REUTERS/Kim Hong-Ji
The ruling provided at least temporary relief for the vice chairman of Samsung Electronics. But he may face further pressure from the case at a time when the world’s top maker of smartphones and memory chips contends with the impact of the COVID-19 pandemic on demand.
Prosecutors last week asked the court to issue an arrest warrant for the 51-year-old Lee, as part of a probe into alleged accounting fraud involving a Samsung drugs affiliate and a 2015 merger of two other affiliates.
They said the fraudulent accounting, and alleged stock manipulation, helped facilitate Lee’s plan to assume…
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