Ex-Samsung Boss Sentenced to 3 Years with 5-year Suspension

Former Samsung Group Chairman Lee Gun-hee was sentenced to three years in jail with a five-year suspension for tax evasion by the Seoul Central District Court on Wednesday.

Judge Min Byeong-hoon said Lee, 66, is guilty of tax evasion and sentenced him to three years in jail with a five-year suspension.

However, Min said "it is difficult to say that the defendant committed breach of trust" in connection with the murky transfer of his corporate control to his son and heir apparent, Lee Jae- yong.

A special prosecutor had demanded seven years for Lee, who resigned as chairman of Sam sung, one of South Korea's largest companies, in April in a trial of scandals.

In an independent probe sanctioned by parliament, special prosecutor Chao Joon-woong charged Lee with evading 112.8 billion won (111.9 million U.S. dollars) of taxes by hiding assets under borrowed-name stock accounts between 2000-2006 and orchestrating the controversial wealth transfer in the mid-1990s.

Source: CRIEnglish