Samsung heir Lee Jae-yong was indicted Tuesday, September 1, on charges of stock price manipulation and other financial crimes, reported Fox News.
The 52-year-old billionaire’s attorneys refuted South Korean prosecutors’ claims, which had also been filed against 10 other current and former Samsung executives and labeled them “one-sided.”
The lawyers asserted that a 2015 merger between two affiliates of the tech company was “normal business activity.” The deal helped Lee to increase power over Samsung Electronics, where he serves as the vice-chairman.
In a statement, Lee’s representation said there are no new charges worth arguing over.
