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| Samsung ex-boss guilty of fraud | |
| (about 4 hours later) | |
| The ex-chairman of South Korean firm Samsung, Lee Kun-hee, has been found guilty of tax evasion in Seoul and given a three-year suspended jail term. | |
| Lee, 66, was cleared of a more serious charge of breach of trust. | Lee, 66, was cleared of a more serious charge of breach of trust. |
| The court in Seoul also fined Lee 110bn won ($109m). Prosecutors had sought a seven-year jail term and 350bn won ($347m) in fines. | The court in Seoul also fined Lee 110bn won ($109m). Prosecutors had sought a seven-year jail term and 350bn won ($347m) in fines. |
| The charges followed a three-month investigation into alleged corruption at South Korea's biggest conglomerate. | The charges followed a three-month investigation into alleged corruption at South Korea's biggest conglomerate. |
| Lee, one of South Korea's richest men, had headed Samsung for two decades before his resignation from the chairmanship in April. | Lee, one of South Korea's richest men, had headed Samsung for two decades before his resignation from the chairmanship in April. |
| 'Sorry' | 'Sorry' |
| The suspension of his three-year sentence for five years means he does not face an immediate jail term. | The suspension of his three-year sentence for five years means he does not face an immediate jail term. |
| Judge Min Byung-hun told Seoul Central District Court that Lee's crime was "not serious enough to send him to prison". | Judge Min Byung-hun told Seoul Central District Court that Lee's crime was "not serious enough to send him to prison". |
| Speaking after the verdict, Lee said he was "sorry for causing trouble to the people". | Speaking after the verdict, Lee said he was "sorry for causing trouble to the people". |
| The corruption case has been keenly followed in South Korea, where Samsung remains one of the country's most powerful and respected organisations despite the charges against Lee. | The corruption case has been keenly followed in South Korea, where Samsung remains one of the country's most powerful and respected organisations despite the charges against Lee. |
| Samsung is best-known for its electronics unit, but it is also one of the world's largest shipbuilders. | Samsung is best-known for its electronics unit, but it is also one of the world's largest shipbuilders. |
| With a global workforce of 254,000, it enjoyed annual profits of more than $12.9bn (£6.45bn) in 2006 and accounts for nearly a fifth of all South Korean exports. | With a global workforce of 254,000, it enjoyed annual profits of more than $12.9bn (£6.45bn) in 2006 and accounts for nearly a fifth of all South Korean exports. |