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Samsung Electronics Vice President Lee Jae-yong, who was sentenced to prison after being sentenced to prison in the Gukjeong Nongdan incident, resumed a trial on charges of illegal merger and accounting fraud after five months.
On the 11th, Part 25-2 of the Seoul Central District Court Criminal Settlement (Deputy Judge Dr. Park Jeong-je and Kwon Seong-soo) celebrated the second trial preparation date for Vice President Lee’s second trial. and 11 Samsung Group officials. who were brought to trial for violations of the laws on capital markets and financial investment businesses.
This trial preparation date is the first trial to take place after the change of judges. The trial was initially scheduled for January this year, but was temporarily postponed due to the aftermath of Corona 19 and reopened after five months.
On that day, the prosecution said: “The merger between Cheil Industries and Samsung C&T, promoted in 2015, is part of the systematically planned succession of the management rights of Vice President Lee.” Vice President Lee insisted that such charges could not be accepted.
The prosecution planned a merger between Samsung C&T and Cheil Industries (formerly Everland) through the ‘Project-G’ succession plan as Vice President Lee, who had maintained control through the Geumsan Union and circular investment, is in danger of losing control due to regulations. on circular investment I saw that it was promoted.
In pursuing an illegal merger, it was determined that there was a fraudulent transaction, such as committing accounting misconduct to conceal it, spreading false information to investors, and concealing important information.
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Consequently, defense attorney for Vice President Lee argued that the decision to merge at that time was a legitimate business activity to increase shareholder value by stabilizing corporate governance and strengthening management rights. He also highlighted that the decision of the merger was to reduce the circular chain of participation and make the governance structure transparent.
On the other hand, all of the defendants, including Vice President Lee, were not present that day. The trial preparation date is a procedure to settle trial issues and the defendant’s position, and defendants are not required to appear in person.
