Bribery

SEOUL— Samsung’s de facto leader, Lee Jae-yong, will receive a pardon on Monday, South Korea’s presidential office said, a legal reprieve underpinned by expectations that the business tycoon will help propel the nation’s economy.Mr. Lee, twice imprisoned for bribing South Korea’s former president, will have his criminal record from his 2017 conviction wiped clean. But the grandson of Samsung’s founder still has unresolved legal woes related to accounting-fraud charges that could land…

SEOUL— Samsung’s de facto leader, Lee Jae-yong, will receive a pardon on Monday, South Korea’s presidential office said, a legal reprieve underpinned by expectations that the business tycoon will help propel the nation’s economy.Mr. Lee, twice imprisoned for bribing South Korea’s former president, will have his criminal record from his 2017 conviction wiped clean. But the grandson of Samsung’s founder still has unresolved legal woes related to an accounting scandal that could land him…

The heir and de facto leader of Samsung group received a presidential pardon Friday, the latest example of South Korea's long tradition of freeing business leaders convicted of corruption on economic grounds.Billionaire Lee Jae-yong, who was convicted of bribery and embezzlement in January last year, will be "reinstated" to give him a chance to "contribute to overcoming the economic crisis" of the country, Justice Minister Han Dong-hoon said.Lee — the 278th-richest person in the world, according to Forbes, with a net…

Samsung Electronics Vice Chairman Lee Jae-yong received a huge relief today. The President of South Korea, Yoon Suk Yeol, pardoned Lee on the occasion of next week’s Liberation Day anniversary in the country. Lee Jae-yong can now formally take control of South Korea’s largest conglomerate. Earlier, Lee was sentenced to 2.5 years in prison after being found guilty of bribing former South Korean President Park Geun-hye’s aide to force the merger of Samsung C&T and Cheil Industries merger. After Samsung heir spent 1.5…

A key figure in the Justice Department’s campaign to crack down on white-collar crime is looking to use a tool he brought to bear both as a prosecutor fighting gang violence in New Orleans and as a lawyer for the city’s sole Fortune 500 company.Stopping crime before it happens should be a central goal of the more than 1,150 employees of the department’s criminal division, said Assistant Attorney General Kenneth Polite, who took charge of it last year. For Mr. Polite, prevention is crucial to…

Vince McMahon, World Wrestling Entertainment Inc.’s longtime leader, agreed to pay more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity, an amount far larger than previously known.The payouts went to four women, all formerly affiliated with WWE, WWE -1.66% who signed agreements with Mr. McMahon that prohibit them from discussing potential legal claims against or their relationships with the 76-year-old executive,…

Ericsson said on Thursday that the US securities regulator has opened an investigation concerning the matters described in the company's 2019 Iraq investigation report.The Swedish telecom equipment maker said it was fully cooperating with the United States Securities and Exchange Commission (SEC) and it was too early to determine or predict the outcome of the investigation.Ericsson disclosed in February that an internal investigation had found it may have made payments to the Islamic State militant group in Iraq -…

Glencore International A.G. and Glencore Ltd., both part of a Switzerland-based multi-national commodity trading and mining firm named in massive bribery of officials of Nigeria’s state-owned oil company, have pleaded guilty and agreed to pay over $1.1 billion fine over their involvement in a corruption scheme. The firms’ pleas are meant to resolve the United States’ government’s investigations into violations of the Foreign Corrupt Practices Act (FCPA) and a commodity price manipulation…

KPMG LLP agreed to pay a fine after the Financial Reporting Council found shortfalls in its audit of Rolls-Royce Holdings PLC, the British jet engine manufacturer that settled bribery allegations in 2017. The U.K. audit regulator on Tuesday said it imposed sanctions of £3.4 million—equivalent to $4.2 million—against the professional-services firm and £112,500 against audit partner Anthony Sykes. The investigation, which the FRC announced in 2017, focused on…