Supreme Court to Rule on Lee Jae-Yong's Samsung BioLogics Accounting Fraud Case

5 hours ago
Supreme Court to Rule on Lee Jae-Yong's Samsung BioLogics Accounting Fraud Case

The Supreme Court of South Korea is set to deliver its ruling on the accounting fraud allegations against Lee Jae-Yong, the Vice Chairman of Samsung Electronics, on July 17, 2025. This decision comes nearly five years after Lee was indicted in September 2020. The Supreme Court's third division, led by Justice Oh Seok-jun, will announce the verdict at 11:15 AM, involving Lee and 14 other defendants.

Lee was charged with manipulating stock prices to facilitate the merger between Cheil Industries and Samsung C&T in 2015, which was allegedly aimed at consolidating management control and strengthening the group's dominance. He is also accused of being involved in accounting fraud at Samsung BioLogics to inflate the value of Cheil Industries, where he is a major shareholder.

Both the first and second trials acquitted Lee of all 19 charges, with the first trial stating that there was insufficient evidence to conclude that the merger was solely for the purpose of succession. It noted that there were legitimate business objectives for Samsung C&T as well.

During the appeals process, the prosecution submitted an additional 2,144 pieces of evidence and amended the charges in an attempt to prove their case. However, the second trial court ruled that there was no evidence of intent to commit accounting fraud, stating that criminal responsibility could not be established based on speculation or assumptions regarding the serious allegations.

The prosecution's decision to appeal the acquittals in both previous trials has drawn criticism from some legal experts, who have labeled it as an "unreasonable appeal."

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