The Samsung chief does not have to go to jail again, after 9 years, the court acquitted him
Kathmandu. The head of the South Korean electronics company Samsung has avoided going to jail again. After the court acquitted Lee in the case that the head of the company, Lee-Jae-Yong, committed financial crimes in the merger agreement between two companies under Samsung, he did not have to go to jail again.
The Seoul Central District Court ruled on Monday that Lee did not do anything illegal in the business deal. The merger agreement between Samsung C&T and Cheyal Industries in 2015 was filed in the court saying that Lee committed crimes related to shares to maintain his monopoly.
Under this, he was accused of betraying the shareholders by underestimating the share price of Samsung C&T and embezzling funds. The court ruled that Lee did not enter into the merger agreement with bad intentions.
After being acquitted by the court, Lee escaped from prison again.
Earlier in 2017, he was sentenced to five years in prison after being found guilty of paying $6.4 million in bribes to South Korean President Park Geun-hye to obtain government support for the merger. But he was released after 11 months due to the suspension of the Court of Appeal.
In 2021, he was sentenced to two and a half years in prison after being found guilty in the same merger related scam. But in 2022, President Eun Suk Yeol pardoned him and released him from prison. About a year after he was released from prison, he was appointed as the executive chairman of Samsung Electronics.
The image of the company was tarnished when Lee, who is also the second richest person in South Korea, got into legal trouble.
Last Updated: Jan 23, 2080 18:32
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