Acquittal on 18 Charges in Both First and Second Trials
Lee Jae-yong's Unfair Merger and Accounting Fraud Case
Supreme Court Appeal Review Committee Recommends Appeal, Prosecution Decides to Appeal
Samsung Electronics Chairman Lee Jae-yong is entering the courthouse to attend the second trial continuation hearing related to Samsung's unfair merger charges held at the Seoul High Court on November 11 last year.
The case involving Samsung Electronics Chairman Lee Jae-yong, who was acquitted of all 18 charges in both the first and second trials related to allegations of unfair mergers and accounting fraud in the succession of Samsung Group's management rights, is finally set to be reviewed by the Supreme Court.
On the 7th, the Seoul Central District Prosecutors' Office announced through a press release that it has filed an appeal against the second trial verdict in the 'Samsung C&T-Cheil Industries illegal merger and accounting fraud' case involving Chairman Lee and others. The prosecution stated, "There are differences in legal interpretations regarding the purpose and circumstances of the group control succession through the Samsung C&T-Cheil Industries merger, accounting fraud, and fraudulent transactions, and the first and second trials also differed in their judgments on key issues."
They added, "This is not only inconsistent with previous rulings that recognized the group's control 'succession operation' and 'window dressing of accounts,' but also takes into account the fact that numerous related lawsuits are ongoing." They explained that the appeal was filed reflecting the opinion of the Criminal Appeal Review Committee held that day to 'file an appeal.' The prosecution also stated, "We will make every effort to maintain the prosecution to ensure that the appeal process proceeds swiftly and efficiently."
The prosecution requested the convening of the Criminal Appeal Review Committee in accordance with the Supreme Prosecutors' Office regulations. According to the regulations, when a prosecutor intends to file an appeal in a case where all charges were acquitted in both the first and second trials, they must request a review by the Appeal Review Committee. The committee met in private at the Seoul High Prosecutors' Office building for about an hour and a half starting around 10 a.m. that day. It is reported that four prosecutors responsible for maintaining the indictment in Chairman Lee's case attended the committee and argued the necessity of filing an appeal. The committee members also expressed the opinion that filing an appeal was necessary.
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