Samsung Electronics Chairman Jay Y. Lee was found not guilty of accounting fraud and stock manipulation by a Seoul appeals court on Monday, in a ruling that could remove long-running legal risks that he has faced from criminal cases.

A South Korean appeals court cleared Samsung Electronics Chair Lee Jae-yong Monday of stock manipulation and accounting fraud related to the 2015 merger of two of the company's affiliates.

A South Korean appeals court has upheld a ruling that acquitted Samsung Electronics Chairman Lee Jae-yong of financial criminal charges over a contentious merger between Samsung affiliates that cemented his grip over the biggest South Korean company.