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Industrials

South Korean prosecutors indict Samsung leader Jay Y. Lee on stock manipulation charge: official

FILE PHOTO: Samsung Electronics Vice Chairman, Jay Y. Lee, speaks during a news conference at a company's office building in Seoul, South Korea, May 6, 2020. REUTERS/Kim Hong-Ji/Pool/File Photo

SEOUL (Reuters) - South Korean prosecutors indicted Samsung Group leader Jay Y. Lee on charges of manipulating stock prices and breach of trust in order to cement control of the group, a prosecution official said on Tuesday.

Considering the gravity of manipulating the capital market, prosecutors decided to indict despite an independent panel’s previous recommendation not to indict, the official said.

Reporting by Joyce Lee; Editing by Muralikumar Anantharaman

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