Samsung heir Jay Y. Lee received a presidential pardon that saw him freed from prison and cleared of bribery charges. According to reports, the move was for him to lift the country out of the financial quicksand it found itself through the multinational electronic corporation he inherited from his father.
He has been tied down with legal issues since the mid-2010s and was sentenced to jail for five years in 2017. However, he got out after just one year and was rearrested and sentenced again in 2021 for two-and-a-half years.
The presidential pardon means that Lee would not face trial again for the crime, which was bribing public officials to allow the merger of two Samsung affiliates. Engadget says that the union would have made him the uncontested head of the company.
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Jay Y. Lee could now inherit his father’s seat at the head of the Samsung board. Also, he gets to travel overseas, another luxury he could not afford during his lengthy trial.
“In a bid to overcome the economic crisis by vitalizing the economy, Samsung Electronics Vice Chairman Lee Jae-yong, whose suspended prison term was ended recently, will be reinstated,” the Korean government said in a statement obtained by Bloomberg.
In addition, it appears that he still has the matter of fraud and stock manipulation to settle in court, and the hearings for those have not been set. There are those who feel that any official charge against Lee would be quashed as soon as they come up.
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