Asia
Samsung Billionaire Cleared of All Charges in Big Legal Win
- Seoul court upholds Jay Y. Lee’s earlier victory on appeal
- The Samsung scion can now focus on turning around the firm
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Samsung Electronics Co. Executive Chairman Jay Y. Lee won a court decision clearing him of charges of fraud and stock-rigging, allowing the head of Korea’s most influential firm to focus on turning around a struggling electronics business.
The Seoul High Court on Monday upheld an earlier decision clearing Lee, which prosecutors appealed last November. In the original ruling, lower court judges declared that the prosecution failed to prove beyond a reasonable doubt that Samsung or Lee had misled shareholders.