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Electronics Production | April 17, 2008

Samsung-Boss charged in bribe scandal

Samsung-Boss Lee Kun Hee has been charged with fiscal evasion and defalcation.
The chief investigator reported in Seoul that Lee Kun Hee has reportedly used around 1200 accounts under various names for share transactions and was thus able to peculate €72 million in taxes.

The biggest South Korean conglomerate is said to have bribed officials on a regular basis, which however has not been proven yet. The investigation was triggered by the impeachment of a former Samsung lawyer. He said that Samsung had several secret accounts to bribe officials.

The investigator said that they do not plan to arrest the 66 year old Lee Kun Hee. Disruption to Samsung’s business could not be determined with such a step, the chief investigator said.

A further 9 high-ranking managers were accused of fraudulent behaviour and fiscal evasion. Samsung has announced to restructure the company to avoid future illegal actions.
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November 15 2018 5:25 pm V11.9.0-1