And I thought Wesley Snipes got off easy… A South Korean court has found former Samsung Chair Lee Kun-hee guilty on tax evasion and securities law violations stemming from transactions allegedly orchestrated on Samsung’s dime – but he escaped jail time.
The 66 year old Kun-hee was accused of avoiding more than $112 million of taxes. Prosecutors had hoped for significant jail time and $347 millions but was merely fined $109 million. Age may have been a factor.
Kun-hee stepped down as Chair of Samsung after the allegations came to light last year. The company was founded by his father Lee Byung-Chul and is the largest employer and exporter in South Korea.
After the verdict, Lee said, “I’m sorry for causing trouble to the people.” Sadly, an apology is more than you will get from most folks these days.
