Patrick Frater Asia Bureau ChiefA court in Seoul on Tuesday denied the arrest warrant for Lee Jay-yong that prosecutors had applied for at the end of last week.
The heir apparent and de facto boss of Samsung Group remains accused of accounting fraud and stock manipulation.“It appears that prosecutors have secured considerable amount of evidence through their investigation, but they fell short of explaining the validity to detain Lee,” the Seoul Central District Court said.The allegations against Lee focus on transactions and stock manipulation that enabled an $8 billion merger between affiliates Samsung C&T Corp and Cheil Industries in 2015.
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