Samsung Group chief Lee Jae-yong arrestedPhoto: Lee Jae-yong, Wikipedia, CC BY 3.0

After a year of imprisonment the vice president of the Samsung Group is free again in the same week his father has named as a suspect in a tax evasion case ($7.5 million).

Samsung Group chief Lee Jae-yong arrestedPhoto: Lee Jae-yong, Wikipedia, CC BY 3.0

A panel of judges suspended Jay Y. Lee’s sentence. “A surprise decision that sent shockwaves through the country’s political and business establishments”, reported Reuters. “They suspended the sentence for four years, meaning that he is unlikely to serve any more time in jail.” The expectation is he will take up the reins once again. Read more. 

Reuter also reported that: “Chairman of the Samsung Group, Lee Kun-hee, was named by South Korean police on Thursday as a suspect in an 8.2 billion won ($7.5 million) tax evasion case that involved the use of bank accounts held by employees.” Read more.