Ex-Samsung boss fined $109 million for tax evasion, collar too white for jail
By Thomas Ricker 
posted Jul 16th 2008 4:41AM
posted Jul 16th 2008 4:41AM
Bringing an end to the Samsung slush fund probe, a South Korean court has fined Lee Kun-hee, Samsung's former Chairman and son of the chaebol's founder, $109 million for tax evasion. A rather favorable decision when you consider that prosecutors sought a seven-year jail sentence and a fine of $347 million. The court said that his crimes did not justify a prison term. Lee, appearing relieved by the decision, apologized again saying, "I'm sorry for causing trouble to the people," presumably while adjusting his monocle and top-hat from atop his golden chariot.
And once again justice prevails!!!
The judge being his nephew I suppose ...
Shoooo, justice did not prevail. That man should be behind bars. Period. Also, "Not the Momma!".
I think he was being sarcastic.
Why should that man be behind jail rock? Did he commit a crime? What is the income tax anyways but forced coercive charity. I know this is South Korea but did you know that by the United States constitution the income tax is illegal because it is not apportioned? The amendment was not even ratified. Think about it, he wasn't violent, he didn't steal from anyone, why should he go to jail? These tax laws are ridiculous, that tax doesn't even pay for roads or hospitals, it pays for interest on national and domestic debt. I cannot believe people think it is a crime not to pay taxes and actually think it deserves jail time.
so sawee.
ok as much as I love engadget wat do u guys have against him?? Sure he committed a crime but give him a break
Ppl in Korea have been tryin to take this guy down for ages despite what he's done for the country
It's because he has a monocle, top-hat, AND golden chariot.
Now that's just gawdy.
Oh yeah, and something about not paying several million dollars in taxes and just getting a slap on the wrist due to his wealth.
It really is disgusting.
'Despite what he has done?'
Think about 'how' that was done..
I am sure the ordinary poor people of South Korea would have been treated just as favourably!
I wish Engadget would treat more top-hats like that... cough Bill Gates cough.
I'll take my low ranked :)
I'll save my clicks for another comment..
You dont deserve to be ranked
so what. this guy has to use toilet paper for a day. then back to the thousand dollar bills.
"doesn't justify jail" yet stealing an album is warrenting jailtime. plus one to the legal system
"yet stealing an album is warrenting jailtime"
By "stealing" you mean making a copy, not actually physically taking anything, right? ;-)
You realize that the US and Korea have different laws, courts, etc...
He's trying to make a valid point.
He even has the face of a tax-evader, that "Are you gonna eat all that?" look. That "Mmm, that cookie jar looks mighty tempting" look.
I don't blame him... cookies are good.
One law for the rich, one law for the poor.
If he had repeated robbed convenience stores over the same time period and accrued $1000, he'd be in the slammer for sure.
There is really no disincentive for white collar crime of this sort. Actually, as the potential rewards are so high, there is actually an *incentive* to have a go. What have you got to loose?
Sangyoon "...despite what he's done for the country"
Are you really saying that the ends justify the means? Really??
I find it interesting how confussed you people are on cultural differences. In America he would be promotted. Or moved to another company at a higher salary. In fact you would not find an American manager that would do what this man has done....take responsibility. This is something American industries need to look at if they want to stop their downward spiral.
He really can't not avoid responsibility, esp. since the case is directly(and personally too, i think) linked to him
How could we forget Enron so soon....
Bah you have no idea how things work in the real world.
A fine like this hurts him more than going on vacation to a hotel-prison for 6 months. The only way to hurt them is to make them give up the profit from their crimes.
He looks like HELLO KITTY doll.
I think he looks like Hamtaro
http://userserve-ak.last.fm/serve/160/291698.jpg
Gee, with all those millions and you'd think Samsung could make a go at removable flash and battery (and FLAC support) in their small stick audio players.
:)
A lesson learned from crime: If you have to become a criminal, make sure many others benefit from you actions so they will support you when you go down. Being a lonesome burglar doesn't make friends for you. Being the head of a multi-billion company that pays millions of dollars of bribes gives a lot of people a bad feeling about you going to jail.
So much for "justice", hahaha.
become chairman of samsung did become yoda when?
gets everybody eventually the darkside does.
CNN today: Prosecutors have said they found 4.5 trillion won ($4.5 billion) of his personal assets under borrowed names and determined he evaded taxes worth 112.8 billion won ($112 million), according to reports from The Associated Press...
Hey he still made 3 extra million and no jail time!
White collar crime wins again!
Sources report Lee Kun-hee stating the following when leaving the courthouse:
"Hmm... I think I'll buy.... a train."
Can someone seriously explain to me why he's not in jail? Isn't S. Korea a democratic country?
This is precisely why we need a flat tax here in America--to avoid loophole-using, cash-under-the-table having businesspersons. Do away with the IRS and raise sales taxes to compensate. That way, even illegal immigrants have to pay their fair share. Tax evaders, be warned--this is why many liberalists want to raise taxes on the wealthy--the perception that the wealthy already make too much is an argument that is helped by tax evaders.
seeing "boss" in the title threw me off as to think that this article was from my BBC RSS feed.