Digital Trends
After being charged with fraud and resigning as head of the Samsung Group, Lee Kun-hee was given a three-year suspended jail sentence on charges of tax evasion, but was cleared of breach-of-trust charges and charges he issued bonds to illegally transfer money to his children.
Lee’s sentence was suspended for five years. The court also fined Lee 110 billion won (about $110 million US), which was more than double the amount he was charged of evading in taxes.
In a move that’s been expected for some weeks, Samsung chairman Lee Kun-hee resigned his position at South Korea’s largest corporation following an indictment last week on fraud and tax evasion charges. Also stepping down are Samsung vice chairman Lee Hak-soo also announced his resignation, along with that of the chairman’s son, Lee Jae-yong, also a Samsung executive.
"We, including myself, have caused troubles to the nation with the special probe," Lee Kun-hee said at a news conference announcing the resignations today in Seoul. "I deeply apologize for that, and I’ll take full responsibility for everything, both legally and morally."
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