Samsung boss may go to jail – level 3

21-11-2023 07:00

Samsung Electronics chairman Jay Y. Lee denies accusations of accounting fraud and stock price manipulation related to an 8-billion-dollar merger in 2015.

Prosecutors seek a five-year jail term. The trial, spanning three years, concludes on January 26. Prosecutors argue that Lee and former executives violated the Capital Markets Act to facilitate the merger, benefiting Lee at the expense of minority investors. They allege abuse of authority and extreme information imbalance. Lee insists the actions were part of normal management and aimed at transparent governance.

The defense claims the prosecution ignored crucial evidence from 106 hearings, including minority shareholders’ views and government findings. Lee’s previous bribery conviction was pardoned in 2022.

Difficult words: facilitate (to make an action or process easy or easier), bribery (giving money illegally to influence a person’s behavior), conviction (a formal declaration that someone is guilty of a criminal offense).

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What evidence does the defense claim the prosecution ignored in the trial of Samsung Electronics chairman Jay Y. Lee?


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