President of Samsung was authorized by fraud by the Superior Court of South Korea

The main court of South Korea has to dismiss all the charges in a long -term fraud case against President Jay Y. Lee. The charges of manipulation of fraud and accounting actions were derived from a fusion of two Samsung subsidiaries in 2015. Prosecutors had accused Lee of manipulating the prices of actions to help clean the way for fusion in an attempt to consolidate their power.

In 2024, a court ruled that prosecutors did not prove their claims. The case has worked through the appeal process since then. In a statement to Samsung’s lawyers said the last ruling confirmed that the merger had legally completed and added that they were “honestly grateful” to the Supreme Court.

In 2017, Lee was sentenced to five years in prison after being sentenced by bribery public officials regarding the merger. However, the Supreme Court revoked the decision and ordered a rehabilitation. As a result of that, Lee received a 30 -month prison sentence and turned 18 before being placed on probation. The then president of South South Korea, Yoon Suk Yeol (who was withdrawn from office this year and recently occurred by a failed attempt of martial law in 2024) then forgave Lee.

While the ruling of the Supreme Court was widely expected, it eliminates “a layer of legal uncertainty” related to Samsung, an analyst said. It will allow Lee to focus more on Samsung, than at the beginning of this month a 56 percent drop in operational profits for the quarter of April-June compared to the same period in 2024. That is due, in large part, to slow sales of its AI chips.