Court rejects arrest warrant for Samsung BioLogics CEO
A Seoul court on Saturday again rejected an arrest warrant for the head of Samsung BioLogics Co., who is under suspicion of orchestrating accounting fraud.
The Seoul Central District Court said "there is room for dispute" over Samsung BioLogics CEO Kim Tae-han's alleged role in pushing the company to intentionally violate the country's accounting rules by inflating the value of its subsidiary, Samsung Bioepis, ahead of BioLogics' 2016 initial public offering. He is also accused of embezzling some 3 billion won ($2.6 million).
The rejection comes after the court in May turned down a prosecutors' request for an arrest warrant for Kim over charges of abetting the destruction of evidence in fraudulent accounting.
The CEO, upon arrival at the court on Friday, said nothing when asked by reporters whether he acknowledges the charges.
Earlier, eight Samsung officials and executives were arrested for allegedly destroying evidence in an accounting scandal.
Prosecutors have been looking into suspicions that the accounting fraud may have served to benefit a 2015 merger between two Samsung units and thereby enhance Samsung Electronics Vice Chairman Lee Jae-yong's control of Samsung Group.
The alleged fraud could have inflated the value of Cheil Industries Inc.'s stake in Samsung BioLogics, ahead of its merger with Samsung C&T Corp. in 2015, according to civic groups. Lee was a major stakeholder in Cheil at that time.
The fraudulent accounting is estimated to have amounted to 4.5 trillion won, according to the financial watchdog.
The then loss-making Samsung BioLogics reported sudden profits in 2015 after it changed the method used to calculate the value of Samsung Bioepis, a joint venture with US-based Biogen Inc.
Samsung BioLogics has maintained that the change of accounting methods was in line with international accounting standards. (Yonhap)
(责任编辑:关于我们)
- “精致小春姐”顾春芳:华丽白西装、镶钻水晶拖鞋,带来新兴凉果No.1
- 让农事动起来!2024年广东省第一届农事运动会主题LOGO发布
- Maisie Williams just trolled Sophie Turner with the perfect 'Game of Thrones' meme
- Diaspora journey of running for US Congress
- We Bought the Cheapest DDR5 RAM Modules We Could Find, Are They Any Good?
- 雅安市第四人民医院:工娱治疗让患者康复之路充满希望
- Google writes a $50 million check to prep the world's workers for the rise of its robots
- Spain pounce on Sweden shock, Portugal held by Ireland
- 何以“逆势上扬”?“荔枝镇长”连炼生解码雷岭荔枝
- World’s first ‘meltdown
- Diallo released from custody in assault probe
- Diallo denies involvement in attack
- Wolff demands review of Verstappen incident in Brazil
-
Input devices like keyboards have a key role in the computing and gaming landscape, so the guts of t ...[详细]
-
[Weekender] Women prevail in interpretation arena
In several sectors of Korean society, from education to the civil service, women prevail. The interp ...[详细] -
Civil group presses for N.K. Human Rights Act
A leading international human rights organization Wednesday called for the prompt passage of the Nor ...[详细] -
FM hopes PyeongChang will help denuclearize N. Korea
By Yi Whan-wooForeign Minister Kang Kyung-wha hopes the PyeongChang Winter Olympics will serve as an ...[详细] -
If aliens harnessed solar power, could we detect them? NASA investigated.
Somewhere in the galaxy, an advanced alien civilization might harness energy from its star. And NASA ...[详细] -
Moyes renaissance has West Ham dreaming big
LONDON:West Ham manager David Moyes is enjoying a long-awaited renaissance after years in the wilder ...[详细] -
CD display at Cheongju craft biennale sets world record
A giant display made of old CDs at the ongoing international craft biennale in the central South Kor ...[详细] -
Top seed Sabalenka crashes out of WTA Finals
GUADALAJARA:Top seed Aryna Sabalenka crashed out of the WTA Finals in Guadalajara on Monday, losing ...[详细] -
It's Unnecessary But, AMD Is Basically Lying About CPU Performance
Did you know that AMD's old Zen 3 architecture, released back in late 2019, is actually faster for g ...[详细] -
Watch the super wonky trailer for Oculus's first full
Virtual reality company Oculus on Thursday released a trippy trailer for its first full-length film, ...[详细]
Webb telescope just snapped image of huge black hole gobbling material
Moyes renaissance has West Ham dreaming big
- Our galaxy might crash into Andromeda. What would happen to Earth?
- N. Korea claims sanctions hinder development goals
- Trump vows to renegotiate military cost for U.S. troops in S. Korea
- Google's Daydream VR platform is now on Samsung Galaxy S8 and S8+
- Speeding space object triggered a warning. It wasn't an asteroid.
- Forget fake news. Facebook needs to do something about fake ads
- Spain pounce on Sweden shock, Portugal held by Ireland