Reuters - TIMELINE: Key events related to Samsung Group probe

This article was sent to you from Bombastic4000@gmail.com, who uses Reuters Mobile Site to get news and information on the go. To access Reuters on your mobile phone, go to:
http://mobile.reuters.com

TIMELINE: Key events related to Samsung Group probe

Thursday, Apr 17, 2008 5:47AM UTC

SEOUL (Reuters) - A South Korean special prosecutor investigating corruption at the Samsung Group on Thursday indicted Lee Kun-hee, the group's chief and one of the country's most powerful businessmen, for tax evasion and breach of trust.

The special prosecutor also indicted nine other senior executives at country's largest conglomerate.

Following are key events related to the investigation:

- November 5, 2007: A former head of Samsung Group's legal division, Kim Yong-cheol, accuses the conglomerate of operating a slush fund to bribe prosecutors, politicians and bureaucrats to quash investigations into the company's murky management structure. Samsung said the accusations were not true.

- November 20: South Korea's financial watchdog Financial Supervisory Service says it has started a probe into Kim's allegation that Samsung Group used so-called "borrowed name accounts", or accounts used by the company but set up in the names of trusted employees, to stash secret funds.

- November 23: South Korea's parliament approves an independent counsel investigate the allegations made by Kim Yong-cheol.

- November 26: Kim says Samsung had used its subsidiaries to help create a 200 billion won ($202.2 million) slush fund.

Regular state prosecutors start investigation. In the first week, they ban Samsung Group officials from traveling abroad in order to face possible questioning, raid Samsung's brokerage unit, Samsung Securities <016360.KS> and a data centre at Samsung SDS, the group's integrated IT services unit.

- December 12: South Korea's financial watchdog says Woori Bank and brokerage Goodmorning Shinhan Securities had broken rules in setting up accounts for Samsung Group, giving credibility to Kim's claim of "borrowed name accounts".

- January 10, 2008: The parliament-approved special counsel begins its investigation. In its first week, it raids an office of Samsung Chairman Lee Kun-hee, the homes of seven other executives, Samsung's Seoul headquarters and Lee's residence.

- February 14: The special prosecutor counsel raids the headquarters of Samsung Electronics <005930.KS>.

- February 28: The special prosecutor counsel questioned Chairman Lee Kun-hee's son, Lee Jae-yong.

- April 2: Lee Kun-hee's wife was questioned on allegations she tapped into slush fund to buy artwork.

- April 4: Group chief Lee questioned by special prosecutor.

(Reporting by Rhee So-eui, editing by Jon Herskovitz)