A South Korean court on Friday found the former chairman of the Samsung Group guilty of a breach of trust in illegal bond transactions and sentenced him to a suspended 3-year jail term and a fine of 110 billion Korean won ($89 million), South Korea's Yonhap News Agency reported.
The Seoul High Court said Lee Kun-hee compulsory Samsung SDS, a system integration unit of the Samsung Group, to sell bonds to his son and daughters at considerably below-market prices, Yonhap said. Affiliate Samsung SDS lost $22.7 billion won ($18 million) because of those against the law deals.
The court suspended for five years the jail term for Lee, 67.
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The Seoul High Court said Lee Kun-hee compulsory Samsung SDS, a system integration unit of the Samsung Group, to sell bonds to his son and daughters at considerably below-market prices, Yonhap said. Affiliate Samsung SDS lost $22.7 billion won ($18 million) because of those against the law deals.
The court suspended for five years the jail term for Lee, 67.
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