Ex-Samsung Group head Lee Kun-hee was sentenced to 3-years suspended jail on Wednesday for tax evasion. However, the most powerful South Korean businessman was cleared of all charges by the Seoul Central District Court.

The court decided to fine Lee with 110 billion won ($109 million), a sum double than the amount he evaded. Lee was cleared of all charges: breach of trust and illegal issuance of bonds aimed at transferring wealth to his children. Lee’s criminal charges of breach of trust stemmed from two Samsung affiliates’ decisions to sell stock to his son, Jae Yong, at very low prices, a move which would have helped the buyer take over management control of Samsung Group.

Lee Kun-hee, 66, well known for turning Samsung into South Korea’s best-known global brand during his 20-year tenure as chairman, was indicted almost three months ago for evading taxes on billions of dollars by hiding them in stock accounts under the names of his aides.

Nevertheless, analysts were expecting the famed businessman to evade the prolonged jail as well. The Korean judges are known for being indulgent in the cases of white collar crimes due to the fact that sending them to jail could hurt business.

"We ruled against an actual jail sentence as the degree of illegality was not significant enough," Judge Min Byong-hoon said.

In similar case, the chief of Hyundai Motor, the world's No. 6 automaker, was also sentenced to three years suspended jail for fraud. In Lee’s case, prosecutors were seeking a seven-year jail term and a 350 billion won fine.

Lee Kun-hee headed Samsung Group for the past two decades. He is a businessman who played a key role in transforming Samsung from a little-known vendor of second-rate electronics into a giant manufacturer of mobile phones, LCD panels and memory chips with a worldwide known brand name.

Prosecutors started the investigation after a former employee of the company said that Samsung had bribed senior South Korean government figures. The former employee also said the company had a $200 million fund for bribery and stake building and the main the purpose of the fund was to facilitate the cementing of Lee’s son position as heir to the giant company.