Lee Jae-yong, Samsung's heir apparent, has been finally acquitted by South Korea's Supreme Court in an $8 billion merger fraud case.

South Korea's Supreme Court ruled on Thursday to acquit Lee Jae-yong, heir to the Samsung empire, in a fraud case related to the merger between Samsung C&T and Cheil Industries. Lee, who was accused of accounting manipulations to strengthen his control of the company, had already been acquitted in two lower courts. His lawyers said the decision confirms the legality of the merger and accounting treatment, thanking the court for the favorable verdict after a five-year trial.