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Samsung execs jailed over evidence destroyed in fraud case
- Monday | 9th December, 2019
Prosecutors began investigating the suspected fraud at Samsung Biologics after South Korea’s financial watchdog complained the firm’s value had been inflated by 4.5 trillion won ($3.82 billion) in 2015. “Most South Korean people want Samsung … to become the world’s top-class company contributing to the country’s economy,” the judge added. Samsung Electronics declined to comment, and representatives of Samsung Biologics were not immediately available for comment. Civic groups have said the alleged fraud aimed to boost the value of Samsung Biologics’ parent Samsung C&T, adding this was achieved by smoothing the way for a 2015 deal involving the parent and consolidating Lee’s control of the group. Lee faces charges of having bribed former President Park in return for seeking support in Samsung’s succession planning.
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