Samsung VC Lee Jae Once Again in Hot Water-Arrest Warrant Issued

Its seems that difficult days for Samsung VC Lee Jae is not going to end anytime soon as he is once again in hot water. Lee Jae is once again in legal trouble, and prosecutors in South Korea have got arrest warrants for him under their investigation for fraud and merger between two Samsung Units.

This is not the first time Samsung VC will be arrested, as he was in prison three years back as well due to bribery allegations. After one year of spending time in prison, he filed an appeal against his prison sentence, Samsung VC penalty was reduced in half and later suspended.

Samsung VC Lee could end up being arrested once again

These new troubles of Lee Jee are linked to the 2015 merger between Samsung C&T and Cheil Industries. This merger was aimed at making Lee the largest shareholder of Samsung C&T, holding company for Samsung Group. After some time, other stakeholders filed a case against Lee while calling this merger unfair. This time Lee is charged along with two other executives for illegal transactions and market manipulation wrt to the merger mentioned above.

The time is near when Lee will be arrester. Previously Lee was also found guilty of concealing criminal profits and hiding assets overseas. Though he has always rejected all these claims; however, there is definitely something to the story which will be revealed in the coming days.

Also Read: Samsung VC Lee Jae-yong Facing 5-year Jail Sentence for Corruption