As reported by Ukrinform, Bloomberg.

The charges relate to the controversial merger of two Samsung subsidiaries (Samsung C&T Corp.). and Cheil Industries Inc. In 2015. The merger deal helped strengthen Lee’s control over the holding company, prosecutors said. They sought a five-year prison sentence and a $376,000 fine for Lee.

According to the judge, the prosecution did not present sufficient evidence that the deal was made in violation of the law or solely for the purpose of strengthening Lee’s control over Samsung Electronics.

As Ukrinform reported, Lee was already sentenced to five years in prison in September 2017, but a year later the sentence was reduced to probation. Then the trial started again, and in January 2021, the businessman was sentenced to another 2.5 years in prison.

Lee Jae-yong was arrested on suspicion of paying large sums of money from Samsung to companies that were confidants of former president Park Geun-hye in exchange for political support for a merger of Samsung subsidiaries that prosecutors said would strengthen the Lee family’s control. on the company. According to the prosecutor’s office, the bribes amounted to approximately 30 billion won ($27.1 billion).

In August 2021, the businessman was released early.

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