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.

When Samsung Electronics named Yoon-Woo Lee as vice chairman and CEO a few months back, we were hoping that all that rioting and poster burning would subside. Although we haven't heard of any more breakouts of late, things are apparently still rocky on the inside. Lee Soo-Bin, chairman of Samsung Life Insurance and current representative for the Samsung Group, admitted that "without a captain or rudder, Samsung now faces a complex crisis, with each unit meeting cut-throat competition independently." He continued to say that the group "was able to ride out a previous crisis together thanks to former chairman Lee Kun-Hee's strong leadership and the guidance of the Strategic Planning Office, [but] now it could not do so." From the outside looking in, it's a bit tough to really understand what he's getting at, but whatever the case, those are most definitely not the words you want coming from the mouth a head exec.

Think you're a fanboy? Supporters of the Samsung Group gathered for a rally during a press conference held by Kim Yong-chul, a lawyer calling for punishments to be handed out to disgraced company CEO Lee Kun-hee. During the proceedings, supporters burned pictures of Kim and generally made Apple and Microsoft fanatics look like choir boys on especially good behavior. Now that's dedication.

[Thanks, Dooder; Image courtesy AP Photo/Ahn Young-joon]

Oh Lee Kun-hee -- if you keep this up, you're going to make the Enron CEOs look like choir boys. The latest episode in the unending shame-game that is Samsung's corporate improprieties comes in the form of a an actual indictment against the electronic-maker's top man... for fraud. According to a report out of Australia, prosecutors in Korea have formally charged Kun-hee (who has admitted guilt anyhow), but say they won't arrest him because it would cause "enormous disruption" in the company's operations. Authorities said instead they plan to send him to a week-long, all-expenses-paid trip to a luxurious spa, and hope that a deep tissue rub will rid him of his lawbreaking ways.

[Thanks, Hussain]

Not a lot of people in the US know the name Lee Kun-hee, but he's the chairman and son of the founder of the world's largest gadget company: Samsung. And he's also at the epicenter of one of the craziest corruption scandals the industry has seen in years. Kun-hee and his cronies have already been subject to government probes, and the disgraced chairman has already basically admitted his guilt and responsibility for Samsung's bribery wrongdoings, but now he's made the next ever so gingerly step towards the exit by stating, "I will deeply think about reshuffling the corporate management structure and the management lineup, including myself." Sure, think it over, take all the time you need -- just don't let the door hit you in the ass on the way out, man.

Lee Kun-hee, Samsung's 66 year old chairman and son of the company's founder, made a potentially damning announcement over the weekend. Following 11 hours of interrogation by prosecutors into allegations of bribery and maintaining a slush fund (among other improprieties), Lee said, "This is all due to my carelessness. I am responsible for everything and must take responsibility." We won't know for sure until the investigation is complete. However, the statement is less likely an admission of guilt than it is an attempt to appease the people of South Korea where the Samsung "chaebol" is more than just a brand, it's a national symbol of pride... at least it was.

Samsung just can't seem to keep itself out of hot water these days. On the heels of its chairman's home raid, it now appears that the Samsung Group headquarters have also been the target of a shakedown. Apparently, the flurry of activity is all related to an ongoing probe into accusations that the electronics-maker is responsible for a slush fund used to bribe influential prosecutors, judges, and political figures. The charges are being lobbed by Kim Yong-chul, a former legal affairs official at Samsung, who claims that the conglomerate used some 200 billion won ($215 million) to fund the shady dealings. The company denies the accusations, of course, though Chairman Lee Kun-hee has been convicted of bribery before in Korean courts... so, uh, this isn't looking good.

Oh noes. An independent investigation launched last week into an alleged multi-million-dollar slush fund has raided the homes of Samsung chairman, Lee Kun-Hee, and six other Samsung execs. The chairman and the executives are already banned from leaving the country. The investigation saw some 50 investigators seize documents and a laptop from Lee's Seoul villa after a search lasting several hours. Samsung, for its part, has denied the long whispered bribery claims, made formal by its former chief lawyer last year.