Prosecutors re-summon Samsung BioLogics CEO
Prosecutors re-summon Samsung BioLogics CEO
  • Jung So-yeon
  • 승인 2019.07.08 12:18
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Prosecutors summoned Samsung BioLogics CEO Kim Tae-han again on July 5 for questioning over alleged accounting fraud.

Kim was questioned three times in May and sought an arrest warrant for him on charges of ordering the destruction of evidence, but was rejected by the court. 

The Seoul Central District Prosecutors' Office called in Kim as a suspect at 10 a.m. to inquire about the decision-making process surrounding Samsung's accounting.

Samsung Bio is suspected of having increased the value of the company by 4.5 trillion won by changing its accounting standards of Samsung Bioepis from a subsidiary (single-handed control) to a related company (joint control) in late 2015.

The Securities and Futures Commission under the Financial Services Commission filed a complaint with the prosecution in November last year against Samsung Bio and Kim, believing that they had abnormally changed their accounting standards for fear of capital erosion stemming from Samsung's recognition of call option debts. 

Samsung has refuted the allegations of intentional accounting fraud, saying it is a legitimate accounting due to the growing possibility of Biogen exercising its call option.

The prosecution has so far arrested eight executives and employees of its affiliates, including Samsung Electronics, Samsung Bio, and Samsung Bioepis on charges of participating in the destruction of evidence.

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