Saturday, August 27, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Apple Patches iOS Security Flaws Discovered In Spyware Targeting Activist
LG To Showcase Latest OLED TVs Compatible With HDR Technologies At IFA
NHK Join Forces With Panasonic And Sony To Win The 8K TV Race
Intel Introduces New 3D NAND SSDs
Facebook To Use Personal Data From WhatsApp To Bring You Personalized Ads
Amazon Introduces Car Research Portal
Google Uses Artificial Intelligence To Compress Images
Researchers Make Wi-fi Networks Faster And Stronger
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Samsung...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, April 17, 2008
Samsung Boss Indicted For Tax Evasion


Samsung Group Chairman Lee Kun-hee was indicted on charges of tax evasion and breach of trust on Thursday, but was cleared of a more serious bribery charge after a probe into South Korea's biggest business group.

Investors, relieved the four-month investigation had ended, said it may help bring transparency to the murky management structure at Samsung, bringing it closer to global standards.

The investigation was launched in January after a former top legal executive at the group accused some of its top management of hiding money and keeping a slush fund of more than $200 million to bribe politicians, prosecutors and officials.

A special prosecutor indicted nine other senior Samsung executives, but said Lee and the others would not be arrested.

Lee could face from five years to life in prison but analysts say he would likely escape prolonged jail time because judges have often been lenient towards corporate leaders convicted of wrongdoing, saying jailing them could hurt South Korea's economy.

While the prosecutor cleared Samsung of the bribery allegations, he said group officials conspired to hide 4.5 trillion won ($4.55 billion) in Lee's assets and worked secretly to transfer wealth to Lee's children.

In a statement, Samsung apologized "for causing concerns."

"Taking this special prosecution investigation as a new starting point, Samsung is preparing reform plans, based on advice from various sectors of our society," it said, adding it would make an announcement on details next week.

Lee, who was questioned twice this month, said last week he took moral and legal responsibility for the case and would look into reforming management practices at the group.


Previous
Next
Yahoo Closer to Google Ad Outsourcing Deal        All News        Universal Goes Blu-ray This Summer
Yahoo Closer to Google Ad Outsourcing Deal     General Computing News      Pirate Bay to Sue IFPI

Get RSS feed Easy Print E-Mail this Message

Related News
Samsung Forms Alliance To Promote Curved Display Technology In China
Samsung To Announce Refurbished Smartphone Program
Samsung Gear S3 Smartwatch Is Coming This Month
Samsung's 32TB SSD Includes Cutting-edge 3D Chip Technology
Researcher Hacked Samsung Pay Standing Just 2m Away from The Paying Process
Samsung, TSMC And Intel Set To Expand Their Chip Production Capacities In 2H
Samsung Holds Largest Share In Enterprise SSD Market
Samsung Reportedly in Talks to Buy Assets of Fiat Auto-Parts Unit
Samsung Gear S3, Apple Watch 2 Coming In September
Samsung Unveils the New Galaxy Note7
Samsung and Nestle Collaborate on the Internet of Things and Nutrition
Samsung Second Quarter Results Boosted By Component Sales

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .