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Samsung's Jay Y. Lee during a press conference at the company's headquarters in Seoul, South Korea, in May. Photo: Bloomberg/SeongJoon Cho/Pool/Anadolu Agency via Getty Images

Samsung Group leader Jay Y. Lee was indicted by South Korean prosecutors Tuesday on charges including stock manipulation and breach of trust, per Reuters.

Details: The 52-year-old's indictment is connected to a 2015 merger of two Samsung affiliates. An independent panel had earlier recommended against indicting him.

  • "The new indictment is related and centers on whether Lee and Samsung used illegal means to help him take control of the group founded by his grandfather," Bloomberg notes.

Of note: The Samsung heir is "separately accused of giving horses" to former president Park Geun-hye over the action, Reuters reports. Park was impeached and removed from office in 2017 after being arrested on corruption charges.

The big picture: Lee was sentenced to five years in prison in South Korea in 2017 after being found guilty of bribery, embezzlement and perjury. However, he was freed after serving one year when a court suspended his sentence. The country's Supreme Court last year overturned that ruling and ordered a retrial.

Editor's note: This article has been updated with new details throughout.

Go deeper

Ina Fried, author of Login
Sep 2, 2020 - Technology

Foldable phones are getting their moment

Samsung's Galaxy Z Fold 2 (left) and Microsoft's Surface Duo. Photos: Samsung and Microsoft

Folding-smartphone releases from Samsung and Microsoft show the devices starting to carve out a niche as the equivalent of luxury cars. Still up in the air is whether these phones and their successors can propel the category from novel curiosity into the mainstream.

Why it matters: With the smartphone market slowing, manufacturers have an incentive to bet on new concepts. For now, though, foldable technology comes at a high cost with some key drawbacks cutting into the benefits of packing more screen into a smaller phone.

“You blew it”: GOP activist turns on corporations over vaccine mandates

The chairman of the American Conservative Union said on "Axios on HBO" he accepts "Joe Biden is my president, and I want him to succeed," but predicted Republicans retake the House and Senate in 2022 — with greater than 50% odds Donald Trump runs in 2024.

The big picture: In a joint interview with his wife, Mercedes, Matt Schlapp also refused to share their vaccination status. And he told corporate America "you blew it" by embracing vaccine mandates and liberal social stances that have alienated GOP voters and politicians.

18 mins ago - Politics & Policy

Pelosi expects “billionaire’s tax” to pay for Biden social spending

Photo: Yasin Ozturk/Anadolu Agency via Getty Images

House Speaker Nancy Pelosi (D-Calif.) said Sunday she expects the chamber to pass the bipartisan infrastructure plan by week’s end, and alternatives to corporate tax hikes and a “billionaires tax” will be used to finance President Biden’s promised expansion to the social safety net.

Why it matters: Pelosi’s comments come as House and Senate leaders try to wrap up a deal. What will get cut — and how the remainder will be paid — are linchpins to a final agreement.