South Korea's Samsung boss indicted for tax evasion

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.