The 76-year-old chairman of Samsung — South Korea’s largest conglomerate — will be charged with tax evasion in the latest twist in the fortunes of the global technology to shipbuilding group.
Lee Kun-hee, who is incapacitated in a hospital in Seoul, is suspected of evading tax worth $7.5m and using bank accounts in another person’s name that held more than $350m, police said on Thursday.
Police referred the case to prosecutors, who will indict the ailing tycoon for tax evasion. Mr Lee is also accused of embezzlement as police believe funds of Samsung C&T, the group’s construction unit, were misappropriated for interior renovations of Mr Lee’s residence in central Seoul.
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