According to the Nikkei Asian Review, this week, Seoul prosecutors filed charges against Lee Jae Young of securities manipulation that allegedly took place five years ago during the merger of Samsung C&T and Cheil Industries. According to the prosecutor, Lee Jae Young used his position to increase his influence in Samsung’s structures with minimal material costs.

According to the prosecution, the current vice-chairman of the board of directors of Samsung Electronics turned a blind eye to the falsification of accounting reports of the pharmaceutical division of Samsung C&T, being the largest shareholder of the company with a 17.33% stake. In June of this year, prosecutors even demanded that Lee Jae Young be arrested, but now they have refrained from such demands. The date of the hearing on the new case has not yet been set.

The defendant’s lawyers said the deal with Samsung C&T was carried out without violating the law. According to them, the prosecutors are more interested in prosecuting Lee Jae Young than in finding out the truth. The defense is ready to consistently prove the innocence of its client in court.

This is not the first time that Lee Jae Young has been sent to jail. In 2017, he faced charges of bribery of former South Korean President Park Geun-Hye. He was released from custody in February 2018, but the case continues to be considered by the higher courts, which have not yet delivered a final verdict.

The current allegations are based on an investigation into a forgery of documents at Samsung Biologics almost two years ago. According to prosecutors, the company’s assets were artificially inflated to give Lee Jae Young more opportunities to influence the business after the consolidation of assets. In May this year, the vice-chairman of the board of directors of Samsung Electronics admitted that he would not transfer his assets to children so that they would avoid such harassment and provocations. In addition, he began to form his positive image in the eyes of the company’s employees, often visiting Samsung factories and taking part in corporate events of various levels.