Sunday , June 26 2022

Lee, Samsung’s leader, is to be tried for alleged illegal use of sedatives


Samsung group heir Jay Y. Lee arrives in court in Seoul, South Korea, on January 18, 2021. REUTERS / Kim Hong-Ji

SEOUL, Oct 12 (Reuters) – Samsung conglomerate leader Jay Y. Lee will be prosecuted on Tuesday on charges of illegal use of a controlled substance as legal issues continue to haunt the executive until and all after his parole in August following a bribery conviction.

Lee’s launch had raised expectations of market watchers about a rain of major decisions on the crown jewel Samsung Electronics Co Ltd (005930.KS) and its affiliates, including the location of a 17 billion chip factory of dollars that was projected in the United States. Read more

But Lee needs to refocus on his legal issues, as the Seoul Central District Court plans to hold its first hearing on a case in which Lee is suspected of receiving propofol (a sedative used in anesthesia) outside. of the medical purposes of a Seoul clinic. .

Under South Korean law, the recipient of a controlled substance that is considered to be illegally administered is responsible for the processing, as well as those who administered the drug.

Lee’s counselor has said its use was hospital treatment and not illegal. Clinic staff, who are being tried separately, have denied the lack of acts.

Prosecutors first learned of the matter in 2020, but were advised to leave the investigation in March 2021 by an independent group to review judicial investigations. They continued to seek the maximum fine until June before another police report on sedative use led the court to order a trial.

The offense carries a maximum sentence of five years in prison or a maximum fine of 50 million won.

Legal experts, however, said they do not expect the maximum penalty in case Lee is found guilty because propofol is less likely to be misused than many other controlled substances.

Lee was convicted in January of bribery and embezzlement and sentenced to 30 months in prison, including a year before his sentence. He was released on parole in August, and the presidential office called for public understanding, citing hope that it would help the country produce “semiconductors and vaccines.” Read more

Following its release, Samsung said it would invest 240 trillion won in the next three years in fields such as chips and biopharmaceuticals. Lee himself has kept a low profile. Read more

Lee is being prosecuted simultaneously on charges of stock price manipulation and accounting fraud related to the merger of two $ 8 billion Samsung companies in 2015, with weekly hearings. Read more

($ 1 = $ 1,199,6500 earned)

Report by Joyce Lee; Edited by Christopher Cushing

Our standards: the principles of trust of Thomson Reuters.

Source link