Tuesday, April 24, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Samsung's Fastest 970 PRO and EVO NVMe SSDs Are Launching Worldwide
Music Streaming Becomes Largest Revenue Source, Physical Sales Decline
New Wi-Fi Capabilities Provide Context-aware Services
Facebook Outlines Internal Enforcement Guidelines For the First time
CyberLink Launches First AI Style Video Editing Plugin for Windows PC
Amazon to Bring Packages Inside Your Locked Car
Xiaomi Takes the Lead in the Indian Smartphone Market
Youtube Details Video Removal Figures
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's Fastest 970 PRO and EVO NVMe SSDs Are Launching Worldwide
Samsung QLED TVs Receive '100 Percent Color Volume' Certification
Samsung Not Interested in Nokia's Health Unit
Samsung to Release Its First MicroLED TVs in 2018
Samsung Galaxy J2 Pro Smartphone Has no Data Connectivity
Samsung 360 Round 3D Video Camera and Samsung DeX Pad Now Available
Samsung Reports Profit on High Memory Sales
Samsung Launches the Notebook Odyssey Z for Gaming
Samsung Notebook 5 and Notebook 3 Target General Users
Samsung Breaks Ground in New Memory fab Line in Xian
Samsung Electronics Shareholders Approve Stock Split, Company Talks About Future for Smartphones, Chips
New Samsung Exynos 7 Series 9610 Mobile Processor focuses on Multimedia

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 .