Samsung not to appeal court ruling against its chief

SEOUL, Aug. 21 (Yonhap) -- Samsung Group said Friday that it will not appeal the
court ruling that sentenced its former chairman Lee Kun-hee to a suspended jail
term for illegal bond transaction.

"We respect the court verdict and decided not to appeal, considering many other
circumstances," Lee Wan-soo, the group's chief attorney, said.
The Seoul High Court last week convicted the 67-year-old Lee of forcing Samsung
SDS, a system integration unit of Samsung Group, to sell bonds with warrants
(BWs) to his son and daughters at a sub-market price in 1999, causing the company
losses of some 22.7 billion won (US$18.2 million). Lee was given a three-year
prison term, suspended for five years, and ordered to forfeit 110 billion won for
breach of trust.
On Thursday prosecutors also said it decided not to appeal the ruling.
The decisions virtually closed the high-profile case after a legal battle of 13
years.
Lee was indicted last year for tax evasion and three counts of illegal bond
deals, including the Samsung SDS case.
He was found guilty of tax evasion and sentenced to a suspended jail term by the
Supreme Court in May, but was acquitted of other two charges of illegally
transferring wealth and managerial control to his only son, Jae-yong.
Lee had served as Samsung chairman for 20 years but stepped down from the group's
top management post under public pressure and criticism in April 2008 after the
indictment.
brk@yna.co.kr
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