The court found Lee not guilty on charges relating to the illegal transfer of group ownership to his son Jae-yong. Lee was cleared of ordering the transfer of convertible bonds in the theme park Samsung Everland, Samsung's de-facto holding company, and the court dismissed the charge that Lee arranged for his son to buy Samsung SDS bonds with warrant at knockdown prices on grounds that the statute of limitations has expired.

Former Samsung Group chairman Lee Kun-hee leaves the courtroom on Wednesday after being given a suspended sentence in his corruption trial.

But the court found Lee guilty of failing to pay tax on W45.6 billion of profits from trading stocks under borrowed names since 2003.

Special counsel Cho Joon-woong, who had demanded a seven-year jail term and W350 billion fine, vowed to appeal immediately. “I can't accept the district court's decision,” he said. Leaving the courtroom, Lee apologized for “causing so much trouble to the people." The Samsung Group did not release an official statement.

The court also gave suspended sentences to two former Samsung Group top executives, sentencing ex-vice chairman Lee Hak-soo to two years and six months suspended for five and a W74 billion fine. Ex-Samsung Group president Kim In-joo received three years suspended for four and the same fine.

(englishnews@chosun.com )