Samsung leader Jay Y. Lee indicted in S. Korea

A fresh blow to one of Asia's most valuable companies on Tuesday (September 1).

And more hot water for Samsung Group's Jay Y. Lee.

South Korean prosecutors have indicted Lee, potentially setting him on course for another criminal trial.

The allegations include accounting fraud and stock price manipulation linked to a 2015 merger.

Lee has already served jail time on a separate case.

Ten other current and former Samsung executives have also been indicted.

The controversial merger involved two group affiliates - Samsung C&T Corp. and Cheil Industries.

Some say the deal helped Lee gain control of the group's crown jewel, Samsung Electronics.

Prosecutors also allege that Lee and other Samsung executives colluded to inflate the assets of Samsung BioLogics.

They say it was to avoid criticism that the merger was agreed at terms favourable to shareholders of Cheil Industries, a major shareholder in BioLogics.

Lee won't be detained as a Seoul court denied a request from prosecutors in June for an arrest warrant.

His attorneys have denied the allegations in a statement.

Lee is vice-chairman of Samsung Electronics, which has a market value of $311 billion.

He was jailed for around a year, until his release in February 2018, for his role in a bribery scandal.

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