Samsung Electronics Vice Chairman Lee Jae-Yong, a.k.a. Jay Y. Lee may be arrested soon under a new legal controversy involving the merger of two Samsung Group companies, Cheil Industries, and Samsung C&T, in 2015.
The de facto leader is being accused of accounting fraud that allegedly helped him gain more power over the family business. Reportedly, prosecutors are seeking an arrest warrant against Lee under the argument that he should be arrested while the new allegations against him are investigated.
The accused attended a hearing this morning (8th June 2020) in Seoul and is awaiting the decision. The chances are high that Lee will be arrested again. Courts are allowed to order detention for up to 20 days. In case of a prosecutor filing charges, the suspect can be held for as long as six months.
This is not the first time Lee has undergone legal issues. He has already spent almost a year in jail after being arrested in February 2017. The Samsung heir was involved in illicit horse purchases, shamanistic cult leaders, and the impeachment of a president. He was later released on an appeal; however, a retrial is due under orders from the supreme court.
Stay tuned for more updates.