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South Korea's 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.
- Agencies
- Published: 11:33 April 17, 2008
Seoul: Samsung Group chairman Lee Kun-hee was indicted on charges of tax evasion and breach of trust on Thursday.
Lee could face five years to life in prison.
Analysts said he would likely escape a long jail time because judges are often lenient towards corporate leaders, saying jailing them could hurt South Korea's economy.
The prosecutor said group officials conspired to hide $4.55 billion in Lee's assets and worked secretly to transfer wealth to Lee's children.
An investigation was launched in January after a former top legal Samsung executive 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.
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