Steve May's entertainment technology joint

avzombie.com header image 2

Samsung Chairman indicted in tax evasion scandal

April 18th, 2008 · No Comments

The Chairman of Samsung, Lee Kun-hee, could be jailed for five years after being indicted by South Korean Special Investigators on charges of tax evasion and breach of trust. The revelation came at the conclusion of a very public 99-day probe into corruption charges. The shamed Chairman was found guilty of hiding 4.5 trillion won in borrowed-name accounts, as a tax dodge.
The scandal has gripped the nation, with the results of the investigation broadcast live on national TV. The case will now go to court, where Lee could face both a significant jail term and financial penalties. Nine other top executives, including Samsung Vice Chairman Lee Hak-soo, have also been indicted. No evidence was found to support bribery through slush fund charges. Following the news, a Samsung spokesman made a public apology to the people of South Korea and the company’s global customers.

Tags: Corporate · LCD TV · Miscellaneous items · Plasma · Trade

0 responses so far ↓

  • There are no comments yet...Kick things off by filling out the form below.

You must log in to post a comment.