Samsung CEO acquitted of criminal charges

A South Korean court on Monday acquitted Lee Jae-yong, Samsung’s top executive, on charges of stock price manipulation and accounting fraud, the latest twist in the billionaire’s legal troubles tied to a merger that helped him secure control of the nation’s largest company. A Seoul district court judge said there was not enough evidence to prove the prosecutors’ charges against Lee and 13 other current and former Samsung officials, including the accusation that the primary intent of the merger was to strengthen Lee’s power over the conglomerate, against the business interests of each Samsung affiliate that merged. Prosecutors had sought a prison sentence of five years and a fine of 500 million won (about $374,000) against Lee, 55.