South Korean police find that Samsung Electronics vice chairman Lee Jae-yong has insufficient evidence of overseas tax avoidance

　　China News Service, March 3. According to Korean media reports, the Financial Crime Investigation Team of the Seoul Metropolitan Police Agency stated on the 3rd that it will investigate Samsung Electronics Vice Chairman Lee Jae-yong and others who are accused of violating the "Specific Economic Crimes Aggravated Punishment Act" for overseas tax avoidance. Samsung's former current executives conducted an investigation, and finally decided not to hand over the prosecution to the prosecution due to insufficient evidence.

Data map: Lee Jae-yong, vice chairman of Samsung Electronics, South Korea.

　　According to the report, a Korean media reported in October 2021 that Lee Jae-yong was suspected of setting up a shell company in the tax haven of the British Virgin Islands in 2008 in an attempt to open an account in a Swiss bank.

After the relevant news appeared in the newspapers, the Young Justice Party sued the prosecution against Lee Jae-yong on the grounds that he was suspected of tax evasion and concealment of criminal proceeds, as well as violating the Law on Aggravated Punishments for Specified Economic Crimes.

　　Since the prosecution can only investigate cases of tax evasion and tax evasion exceeding 500 million won according to law, the case was handed over to the police because the amount involved was unknown.

　　According to the report, in order to confirm the account information in the name of the shell company involved, the police sent requests to the United Kingdom and Switzerland for assistance in the investigation, but failed to obtain relevant information, and ultimately could not identify the specific criminal facts.

　　The report pointed out that the accusing party is not satisfied with the above decision of the police and will submit an objection application.

With the adjustment of the investigation power of the prosecutors, the police have been granted the power to close cases in stages since last year, but if the prosecution raises objections, the case must be transferred to the prosecution.

After discussing the investigation materials, the prosecution may request the police to conduct additional investigations.