South Korea prosecutors seek 5-yr jail term for Samsung Elec chief in appeals case
South Korean prosecutors requested on Monday a five-year jail term for Samsung Electronics Chairman Jay Y. Lee over actions in a controversial merger of affiliates that helped solidify his control in a case being tried at an appeals court. Lee was found not guilty in February of accounting fraud and stock manipulation by a Seoul Central District Court but the prosecutors appealed the ruling. The appeal hearings, which wrap up on Monday, come at a time when Lee faces growing questions about his ability to lead Samsung, the world's top memory chip and smartphone maker, as it grapples with slowing profits and falling stock prices.
Reuters
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1 hour ago