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Samsung chief Jay Y. Lee acquitted in 2015 merger case
Samsung Electronics executive chairman Jay Y. Lee has been declared not guilty on the charge of stock price manipulation and accounting fraud related to
In the November hearing, prosecutors had called for Lee to be in jail for five years and a fine of 500 million KRW ($375,000) over charges of violating the Capital Markets Act — accounting fraud and stock manipulation connected to an $8 billion merger of Samsung affiliates in 2015. Lee denied his wrongdoing and claimed that the merger and accounting processes were part of normal management activities for the company in the hearing last November. Lee also said he had never had personal gain concerning the merger and had never tried harming other shareholders to increase his stake in Samsung’s affiliate.
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