November 24, 2024

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[THE INVESTOR] Prosecutors on Dec. 27 suspended the indictment of ailing Samsung Group Chairman Lee Kun-hee, who is accused of evading taxes and embezzling company funds worth over 11.8 billion won (US$10.50 million) in total, largely citing his health conditions.

The decision effectively means they are closing the case against Korea’s richest man, given that he has remained in coma since suffering a heart attack in 2014.

Lee, 76, has been under investigation over allegations that he dodged 8.5 billion won in capital gains tax by hiding his equity assets in more than 480 brokerage accounts under the names of other Samsung executives.

He is also accused of spending about 3.3 billion won of Samsung C&T’s money to renovate his Seoul mansion between 2009 and 2014.

The Seoul Central District Prosecutors’ Office still indicted four Samsung officials who were in charge of managing Lee’s assets and responsible for the payment of renovation bills, it said.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)