Samsung chief Lee booked for suspected tax evasion: police
Ailing Samsung Electronics Chairman Lee Kun-hee has been booked for suspected tax evasion by keeping about 400 billion won ($367.8 million) in hundreds of different accounts created under borrowed names, police said Thursday. The special investigation unit of the National Police Agency said it referred Lee, Korea's richest man, and a Samsung accounting executive to the prosecution on tax evasion charges. Police accuse the executive, whose identity was withheld, of managing 260 financial accounts using the names of 72 C-suite members at the tech behemoth in 2007 and keeping Lee's assets in them, mainly to avoid taxes. They suspect that, by doing so, Lee has dodged 8.2 billion won of capital gains and real estate taxes from 2007-2010. Police believe those accounts had been managed since as early as the 1990s, but they are only handing over the ones that happened after 2007 since the statute of limitations on the preceding allegations have expired, they added. Polic...