South Korea court acquits Samsung chief Lee Jae-yong of financial crimes
[ad_1]
pattern photo
Creative Commons
Yong was accused of orchestrating a merger to strengthen his hold on South Korea’s largest company. This decision issued on Monday by the Seoul Central District Court may reduce the legal troubles of Samsung’s top executive.
Seoul. A South Korean court has acquitted Samsung Electronics Chairman Lee Jae Yong, accused of stock price manipulation and fraud in connection with the controversial merger of two Samsung subsidiaries in 2015. Yong was accused of orchestrating a merger to strengthen his hold on South Korea’s largest company. This decision issued on Monday by the Seoul Central District Court may reduce the legal troubles of Samsung’s top executive. Yong was found guilty in a corruption case of bribing the former president but the sentence was waived. The court said the prosecution failed to adequately prove that the merger between Samsung C&T and Cheil Industries was unlawful and aimed at strengthening Lee’s control over Samsung Electronics.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
