The grandson of the founder of Samsung Electronics Lee Jae-Yong (Lee Jae-Yong) has been undergoing criminal prosecution for almost ten years, during which time he managed to spend more than a year behind bars, but in the summer of 2021 he was released after pardoning the now former President of South Korea. The prosecutor’s attempt to appeal the acquittal of the court the other day also failed.
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According to Bloomberg, in November last year, the prosecutor’s office filed an appeal, insisting on the guilt of Lee Zhe Yon in the lender of financial documents and abuse of official position, as well as manipulations with securities. If you managed to appeal the acquittal of the court from February last year, then the head of Samsung would have threatened not only five years of imprisonment, but also a fine of $ 341,000.
The appeal was filed by the prosecutor’s office in November last year, but this week the court in South Korea rejected it, withdrawing from Lee Zhe Yon the charges in the indicated case. The high court of Seoul supported the decision of the lower court, having removed all the charges from the heir to Samsung. According to the prosecutor’s office, in 2015, Lee Zhe Yong manipulated securities and falsified the accounting reports when applying for a transaction on the merger of the Samsung C&T and Cheil Industries. This deal ultimately gave him sufficient management control over the corporation founded by his grandfather. Lee Zhe Yon Father retired in 2014 after a heart attack and died later.
It is not yet specified whether the prosecutor’s office will appeal this decision in the South Corean Supreme Court, but such a right is retained for it. In the absence of such consequences, Lee Zhe Yong will be able to focus on the leadership of Samsung Electronics as chairman of the board. The company is now experiencing a difficult period, and the management would be the least to be distracted by lawsuits.