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Samsung Lee walks free after corruption case

Published

11 months ago

on

Samsung Chairman Lee Jae-yong

Korean court today acquitted Lee Jae-yong, Executive Chairman of Samsung, who was indicted on charges of illegal trading, market manipulation, and breach of trust under the Capital Markets Act. The court found Lee not guilty, ruling that there was no illegal activity in the management succession process.

Back in September 2020, Lee and others were arrested on charges of being involved in various illegal transactions, market manipulation, and accounting fraud, and strengthen control at minimum cost during the Cheil Industries-Samsung C&T merger in 2015.

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It has been 3 years and 5 months since the prosecution was indicted. The remaining 13 defendants who were also indicted, were all acquitted. The court ruled that the merger of the two companies was not for the sole purpose of succeeding Chairman Lee or strengthening his control.

“There is no proof of a crime in any of the charges in this case.” – Court.

// KBS News

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James is the lead content creator on Sammy Fans and mostly works on Samsung's firmware section. His first phone was the Galaxy S4 and continues to get new S series devices. Most of the time, James tries to learn about new technologies and gadgets but he also sneaks a bit of free time to nearby rivers and nature.

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