[Edaily Reporter Seong Ga-hyun] Lee Man-kyu, CEO of #Ananti, who was indicted on charges of false accounting disclosures, was acquitted in the appellate court as well.

On the morning of the 18th, the 4-1 Criminal Appeals Division of the Seoul Central District Court (Presiding Judge Song Jung-ho) held a sentencing hearing for Ananti CEO Lee Man-kyu and his younger brother Lee Hong-kyu, the former Chief Financial Officer (CFO) of Ananti, who were charged with violations of the External Audit Act and other offenses, and dismissed the prosecution’s appeal.

They were indicted on charges of omitting tens of billions of won in company funds from the books between 2015 and 2016 and making false disclosures to make it appear as if there were no accounting issues. However, the first-instance court had previously acquitted them, prompting the prosecution to appeal.

The appellate court also dismissed the prosecution’s appeal and acquitted the defendants.

The court ruled, “Upon careful review of the evidence in this case, the lower court’s decision to acquit the defendants on all charges is justified.”

It added, “We do not find any illegality, such as a misapprehension of the facts due to a violation of the rules of evidence, as pointed out by the prosecution, that would have influenced the lower court’s verdict.”