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Samsung's Lee Jae-yong attends first trial date on accounting fraud charges Updated: 2021-04-22 16:58:36 KST

Samsung Electronics Vice Chairman Lee Jae-yong went on trial today over charges of fraud and stock manipulation when two other subsidiaries, Samsung C&T and Cheil Industries, merged in 2015.
Lee was the largest shareholder in Cheil Industries and charges against him relate to Samsung's alleged artificial lowering of the price of C&T to give the 52-year-old a bigger stake in the merged entity so that he could cement his grip on the conglomerate ahead of his father's death last year.
His attorneys again denied these allegations today saying they were legal business management activities.
The trial was originally due to start last month but was delayed as Lee had to undergo an emergency surgery for appendicitis.
Lee is already serving a two-and-a-half-year prison sentence through July 2022, for bribery and embezzlement in the scandal that brought down former President Park Geun-hye.
Reporter : tkim@arirang.com
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