Samsung Group ex-chairman found guilty of tax evasion, spared jail term

SEOUL, Oct. 10 (Yonhap) -- An appeals court found Samsung Group former chairman
Lee Kun-hee guilty of tax evasion but dismissed a breach of trust charge
connected to his wealth transfer to his son, affirming a lower court's verdict
that spared him a prison sentence.

"The case of issuing stocks at a lower price to avoid inheritance and other taxes
cannot be seen as causing losses to the company," Judge Seo Ki-seog of Seoul High
Court said.
The judge convicted Lee of tax evasion on hidden assets.
Sanctioned by the National Assembly, an independent probe had led Lee to resign
and prompted a drastic overhaul in Korea's largest conglomerate.
In his final statement in early September, Lee appealed for leniency and
apologized to the people for "failing to meet their expectation and trust."
A special prosecutor had demanded a seven year jail sentence and a
350-billion-won fine.