Samsung Securities offices raided by Seoul prosecutors

Samsung just can't catch a break these days. The sprawling company's securities division, Samsung Securities, got a surprise visit by some Seoul prosecutors Friday morning, who were after financial documents and hard drives. Samsung's cooperating fully, and continues to claim the allegations -- which include word of a $216 million slush fund for bribing government officials -- are completely false. We're glad to see that this latest spot of the trouble with the law doesn't directly involve Samsung Electronics, and investors seem to be betting that the end result won't have much of an impact on Samsung's actual solvency as a company, but it's not like this is exactly helping the Korean giant's brand.

[Flashpoint @ Nov 30th 2007 10:29AM]

An Asian coorporation using BRIBERY to control government policy?
I never thought that was possible.

*ahem*...zaibatsu...*ahem*

[Matthew Hilario @ Nov 30th 2007 11:34AM]

all of you that bought a samsung tv from the nfl commericals are all supporters of organized crime!

[ekwmin @ Nov 30th 2007 4:02PM]

We do that here in the states too. But it's not called bribing, it's lobbying.

[Jhongerkong @ Dec 1st 2007 12:03AM]

Samsung: HOLD IT!

Prosecuters: OBJECTION!

Samsung: (Holding a bag of money) TAKE THAT!