Saturday, June 23, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
FCC to Seek for Flexible Use of C-band and 6GHz Airwaves
AMD Presents Modular Routing Design for Chiplet-based Systems
Software Business Continues to Work For BlackBerry
Apple Turns to the U.S. Patent Office to Invalidate Qualcomm Patents
Samsung Patents Bezel-less, Notch-free Smartphone Design
China is Home to Most Smartphone Vendors
VidCon 2018: Youtube Announces Memberships, Merchandise as Alternatives to Ads
Chatting With Google Assistant Gets More Natural
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 Patents Bezel-less, Notch-free Smartphone Design
Samsung Details its 7nm EUV Technology
Samsung SDI Unveils New Residential ESS Module
Samsung Introduces 8TB SSD for Data Centers in NF1 Form Factor
Samsung, SK Hynix Experience Low Yields in 18nm DRAM Production
Samsung Starts Researching EUV For DRAM: report
Samsung Lost FinFET Patent Case, Ordered to Pay $400 Million
New Samsung Chromebook Plus V2 Gets New Processors and Cameras
Samsung Launches Fund to Invest in AI Startups
Analysts Talks About Samsung's Upcoming Foldable Galaxy Smartphone
Samsung Begins Production of 16Gb, 64GB DDR4 RDIMM For Servers
Samsung and LG Eye Expansions into the Car Display Market

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .