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Samsung chief Jay Y. Lee cleared of all charges in 2015 merger case
A Seoul appeals court on Monday upheld the acquittal of Samsung Electronics Executive Chairman Jay Y. Lee in accounting fraud and stock manipulation in a
The Seoul High Court dismissed the prosecution’s appeal in the case involving Lee, who faced 19 charges related to unfair trading and stock price manipulation under the Financial Investment Services and Capital Markets Act associated with the controversial 2015 merger of the two affiliates. In November last year, prosecutors in South Korea requested a five-year prison term and a 500 million KRW fine, approximately $375,000, for Samsung Electronics leader Jay Y. Lee at an appeals court. The decision caps off nearly a decade of legal disputes for Lee, starting with one in 2015 focusing on a merger that highlighted issues with corporate governance.
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