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S Korea prosecutors demand prison for former Samsung boss

They demanded a seven-year jail term and a 350 billion won (S$455 million) fine for tax evasion.

Thu, Sep 11, 2008
AFP

SEOUL (AFP) - - South Korean prosecutors Wednesday demanded a seven-year jail term for former Samsung group chairman Lee Kun-Hee, court officials said.

The Seoul Appellate Court said prosecutors also called for a 350 billion won (320 million dollar) fine for tax evasion.

In July, a lower court sentenced Lee to a three-year prison term suspended for five years after finding him guilty of tax evasion but innocent of a more serious charge of breach of trust.

The man who led the country's biggest business group for almost 20 years was also fined 110 billion won.

Both Lee and prosecutors filed an appeal.

Lee, 66, quit the group in April following a corruption probe which had been sparked by former Samsung lawyer turned whistleblower Kim Yong-Chul.

Kim publicly raised major corruption allegations against Lee and Samsung and parliament ordered an independent investigation.

South Korea has a record of leniency towards the bosses of chaebol -- giant family-run conglomerates -- and other prominent white-collar criminals.

Samsung has 250,000 staff in 59 affiliates and accounted for more than 20 percent of the nation's exports last year.

 
 
 
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