Former Samsung boss sentenced to 3 years for fraud - Embedded.com

Former Samsung boss sentenced to 3 years for fraud

LONDON — The former chairman of Samsung Group has been found guilty of a breach of trust over fraudulent bond deals.

Lee Kun Hee was given a three-year prison sentence which is suspended for five years. Lee, who has a week in which to appeal, was also fined of 110 billion won (about $90 million).

The case concerned the illegal sales of bonds in 1999 by Samsung SDS, aimed at passing control of that company to his son, Lee Jae Yong. As a result of the deal the Samsung SDS made a loss of 22.7 billion won (about $18 million) on the sale.

Lee quit after 20 years as chairman of Samsung last year after he was indicted for causing losses at Samsung and for failing to pay taxes.

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