Filed under: Misc. Gadgets

Bringing an end to the Samsung slush fund probe, a South Korean court has fined Lee Kun-hee, Samsung’s former Chairman and son of the chaebol’s founder, $109 million for tax evasion. A rather favorable decision when you consider that prosecutors sought a seven-year jail sentence and a fine of $347 million. The court said that his crimes did not justify a prison term. Lee, appearing relieved by the decision, apologized again saying, “I’m sorry for causing trouble to the people,” presumably while adjusting his monocle and top-hat from atop his golden chariot.

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Filed under: Misc. Gadgets

digg_url = ‘http://digg.com/tech_news/Samsung_CEO_resigns_supporters_riot’; Think you’re a fanboy? Supporters of the Samsung Group gathered for a rally during a press conference held by Kim Yong-chul, a lawyer calling for punishments to be handed out to disgraced company CEO Lee Kun-hee. During the proceedings, supporters burned pictures of Kim and generally made Apple and Microsoft fanatics look like choir boys on especially good behavior. Now that’s dedication.

[Thanks, Dooder; Image courtesy AP Photo/Ahn Young-joon]

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Filed under: Misc. Gadgets

Not a lot of people in the US know the name Lee Kun-hee, but he’s the chairman and son of the founder of the world’s largest gadget company: Samsung. And he’s also at the epicenter of one of the craziest corruption scandals the industry has seen in years. Kun-hee and his cronies have already been subject to government probes, and the disgraced chairman has already basically admitted his guilt and responsibility for Samsung’s bribery wrongdoings, but now he’s made the next ever so gingerly step towards the exit by stating, “I will deeply think about reshuffling the corporate management structure and the management lineup, including myself.” Sure, think it over, take all the time you need — just don’t let the door hit you in the ass on the way out, man.

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Filed under: Misc. Gadgets

Lee Kun-hee, Samsung’s 66 year old chairman and son of the company’s founder, made a potentially damning announcement over the weekend. Following 11 hours of interrogation by prosecutors into allegations of bribery and maintaining a slush fund (among other improprieties), Lee said, “This is all due to my carelessness. I am responsible for everything and must take responsibility.” We won’t know for sure until the investigation is complete. However, the statement is less likely an admission of guilt than it is an attempt to appease the people of South Korea where the Samsung “chaebol” is more than just a brand, it’s a national symbol of pride… at least it was.

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Oh noes. An independent investigation launched last week into an alleged multi-million-dollar slush fund has raided the homes of Samsung chairman, Lee Kun-Hee, and six other Samsung execs. The chairman and the executives are already banned from leaving the country. The investigation saw some 50 investigators seize documents and a laptop from Lee’s Seoul villa after a search lasting several hours. Samsung, for its part, has denied the long whispered bribery claims, made formal by its former chief lawyer last year.

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