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Oops: Samsung Chairman is Under Investigation for Tax Evasion

Of all the crimes one can possibly commit, tax evasion is among the dumbest.

It also seems to be the one that rich people try to get away with most often, which forces me to wonder if maybe, just maybe, wealth and intellect don’t go hand-in-hand after all. Hmm.

Anyway, the latest edition of “Rich People Desperately Hoping To Avoid Giving Away A Single Dime” features Lee Kun-hee, the chairman of tech giant Samsung. Early this morning, South Korean police publicly identified Lee as a potential suspect in a tax evasion case that could be worth up to $7.5 million.

According to police, the tax evasion wasn’t actually the main focus of their investigation; rather, they noticed it during a separate investigation into alleged improper payments for renovations to Lee’s home. Sort of a “two-for-one” deal, if you will.

The Korean National Police Agency said in a statement that “Samsung chairman Lee Kun-hee and a Samsung executive managed funds in 260 bank accounts under [the] names of 72 executives, suspected of evading taxes worth [$7.5 million].”

Thus far, Lee has not been questioned by police, who cited his physical condition as a factor. Lee has been hospitalized since a 2014 heart attack; since the heart attack, Lee’s condition has not improved, and communication with him is difficult.

It’s been a trying couple of years for the family. After Lee’s heart attack and hospitalization, his son, Jay Y. Lee, was found guilty and imprisoned in 2017 on charges of bribery and corruption. Earlier this week, Jay was released following a successful appeal that cut his sentence to 2 1/2 years and suspended it for four years.

Lee has been investigated for tax evasion in the past; in 2009, he was convicted and later pardoned on tax evasion charges stemming from the use of employee accounts that mirrors the current investigation.

Rich people of the world: Tax evasion brought down Al Capone. If they can get him, they can get you too.

Just pay your goddamn taxes.

[via Business Insider]

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