Ex-Samsung chief hit with £55m tax evasion fine

The former chairman of Samsung has been given a 110bn won (£55m) fine and a three-year suspended sentence today after being found guilty of tax evasion by a South Korean court.

Lee Kun-Hee, hid more than £2bn of assets, but was acquitted on charges of breach of trust and the court decided his crimes did not justify a prison term, The Times reported.

Judge Min Byung-Hun, of the Seoul Central District Court, said: 'His crime is not serious enough to sentence him to prison.'

Further reading:

Former Samsung chairman facing jail