| ||Thread Tools|
|11th July 2012, 06:25||#1|
Join Date: May 2010
LG family member chucked in the clink
A member of the LG Group family has been slapped with the cuffs and slung into the clink for three years after being found guilty of stock manipulation and embezzlement.
The Supreme Court locked up Koo Bon-hyun, the nephew of LG honorary chairman Koo Cha-kyung, after he was found guilty of raking in around $11.7 million (13.9 billion won) ($11.7 million) of illegal profits by manipulating the stock price of Exa E&C - an electronic components and environmental company.
It is claimed he managed to do this by spreading false information about the company during the process of taking over a new materials company in 2007. At that time, he was serving as a chief executive of the company, which had no relation to LG.
The 45-year-old was also convicted of embezzling millions of dollars of company funds through accounting fraud.
However, Koo Cha-kyung may have to bite his tongue if he was thinking about having a word with his wayward nephew as LG is not a stranger to finding itself in a spot of bother.
Back in May the company, along with Samsung and Pantech, were slapped with a
combined fine of $40.1 million (45.3 billion won) after the South Korean Fair Trade Commission claimed the group plotted together to mark up the prices of mobile handsets.
|Thread||Thread Starter||Forum||Replies||Last Post|
|DataBorg New Member||jmke||Hardware Overclocking and Case Modding||4||23rd January 2009 07:39|
|Cinebench R11 Preview by XS Member||jmke||WebNews||0||19th August 2008 17:14|
|Asus P5K Mainboard: Youngest Member of Asus Family on Intel P35 Express Chipset||jmke||WebNews||0||16th June 2007 11:50|
|new member||D.O.B||Site & Forum Feedback - Folding@Home||13||26th June 2004 10:01|
|First ORANGE member||Bosw8er||Site & Forum Feedback - Folding@Home||8||25th June 2003 17:23|