Samsung Electronics Chairman Jay Y. Lee was found not guilty on Monday of accounting fraud and stock manipulation by a court in Seoul, South Korea.
The case was related to a 2015 merger that prosecutors said aimed to establish his control of the tech giant. All 14 defendants were acquitted in this case.
Lee, 55, and other former executives were accused of engineering a merger between Samsung affiliates Samsung C&T and Cheil Industries in a way that ignored the interests of minority shareholders.
Before the merger, the Lee family and related entities controlled Cheil but not Samsung C&T, which was a major shareholder in Samsung Electronics.
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Prosecutors had asked for a five-year jail term for Lee, who denied wrongdoing, saying he and other executives acted on the belief the merger would benefit shareholders.
The panel of three judges at the Seoul Central District Court said the merger decision was reached by…
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