Court upholds not guilty verdict in Samsung case
Legal World
South Korea's Supreme Court on Friday upheld a lower court ruling that acquitted the former chairman of Samsung on breach of trust charges.
The top court said that Lee Kun-hee was not guilty, reiterating a judgment made by the Seoul High Court last year. The charges stemmed from long-standing allegations of dubious financial transactions purportedly aimed at transferring corporate control from Lee to his son.
In a related case, the court threw out convictions of two Samsung executives who had been found guilty of selling convertible bonds to Lee's children at prices less-than-market value.
The court said that it could not find that the executives had violated breach of trust laws in the case and sent it back to the Seoul High Court for reconsideration.
Critics had said the sale was aimed at enabling Lee to hand over control of the Samsung Group to his son Jae-yong, now an executive at Samsung Electronics Co.
The elder Lee, who led South Korea's biggest industrial conglomerate for 20 years, was convicted last year of tax evasion and given a suspended prison term.
Lee is a South Korean corporate icon who has personified Samsung. He succeeded his father as chairman and is widely credited with turning the group's flagship, Samsung Electronics, into a global brand.
Lee was indicted in April last year following a probe by special prosecutors into allegations of wrongdoing aired by a former Samsung lawyer. The indictment prompted Lee to quit as chairman of Samsung Electronics.
Related listings
-
Obama: US relations with Russia can improve
Legal World 05/08/2009President Barack Obama says he thinks the United States and Russia can improve their relationship concerning nuclear weapons and several other issues. Obama met at the White House Thursday with Russian Foreign Minister Sergey Lavrov. Lavrov's talks w...
-
Germany upholds triple-barrelled name ban
Legal World 05/06/2009Germany's highest court ruled Tuesday that a married couple — Ms. Thalheim and Mr. Kunz-Hallstein — cannot become Mr. & Mrs. Thalheim-Kunz-Hallstein, upholding a 1993 law that draws the line at a maximum of two last names. The Munich couple, whos...
-
Iran court to hear U.S.-born reporter's appeal
Legal World 05/05/2009An Iranian court will hold a hearing next week on the appeal of Iranian-American journalist Roxana Saberi against her eight-year jail sentence for espionage, the judiciary said Tuesday. Saberi was jailed on April 18 on charges of spying for the Unite...
New Rochelle, New York Personal Injury Lawyers
If you or a loved one has been injured in an accident, contact Kommer, Bave & Ollman, LLP, in New Rochelle, New York, immediately. We can answer all your questions and work with you to determine if you have the grounds for a personal injury lawsuit. The attorneys at our firm are determined to resolve even the most difficult of cases. We will work closely with you to determine the best course of action to get your claim or case resolved in the most efficient way possible. We will fight for your right to compensation! No one should have to suffer a financial burden from the result of another person’s carelessness. The attorneys at Kommer, Bave & Ollman, LLP will aggressively fight to ensure that justice is served on your behalf.