Samsung Chairman Named as Suspect in $7.5 Million Tax Evasion Case

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Samsung Electronics’ (005930.KS) ailing chairman, Lee Kun-hee, was named by South Korean police on Thursday as a suspect in an 8.2 billion won ($7.5 million) tax evasion case that involved the use of bank accounts held by employees.

A series of scandals have dogged the family of Samsung, the country’s biggest business empire.

The chairman’s son Jay Y. Lee, heir to the Samsung Group, was released from detention earlier this week after an appeals court halved his sentence for bribery and corruption to 2-1/2 years and suspended it for four years.

Following a heart attack in 2014, the elder Lee, 76, has remained hospitalized in Seoul’s Samsung Medical Centre and is difficult to communicate with having shown little sign of recovery. Until his imprisonment Jay Y. Lee had been regarded as the de facto head of the group.

Read the original article here: reuters.com


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