Two Samsung executives arrested for fraud in Thailand

Well, it's not as sexy as wrapping a Ferrari around a pole, but it's been a little quiet in the world of white-collar tech exec crime, so we'll take what we can get -- and what we've got is two Samsung executives getting arrested in Thailand for allegedly defrauding two different suppliers out of a total of $19M. Park Kwang-kee and Kim Chung-jun, Samsung's managing director and general manager in Thailand, got put in cuffs last night over what Samsung is characterizing as a "restructuring" that will "maybe [cause] some of our business partners [to] lose some benefits." Sounds like quite the disagreement, there. No word on when this is going to trial, but Samsung says it's "sure" it'll win the case -- and then the search for the real killer is on.

[Shane Reustle @ Sep 7th 2007 8:01PM]

$19,000,000... how come nobody noticed anything at like... 1 million?

[Steven @ Sep 7th 2007 8:49PM]

Because there net exchange is way way over that just like the guy here localy that stole 17 million from an oil company and they didnt notice for quite sometime, its cause when your dealing with 100's of millions thats chump change

[Desolatax @ Sep 8th 2007 1:32AM]

some people...

[AKBlade13 @ Sep 8th 2007 2:06AM]

Uh-oh.

*Plays the Cops theme*

Let's see how this is going to fare.

AKBlade13

[CaliforniaKid @ Sep 16th 2007 9:38AM]

A friend of mine is a research engineer in semiconductor industry. He told me Samsung bought Zenith, when it was the last remaining, US company of its kind.

Samsung then pushed the throttle to the wall and nose dived the company into the ground. The damage was so well orchestrated that Zenith's ability to pay pensions to its retired workers was wiped out, too.

I have no reason to doubt my friend, who's normally quite credible. Anyone else know anything about this?