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Samsung chairman a suspect in tax evasion case

South Korean authorities are investigating Samsung Group Chairman Lee Kun-hee for suspected tax evasion amounting to 8.2 billion South Korean won and using bank accounts held by employees that held 400 billion won, media reported.

Officials are looking into alleged misappropriation of company funds, reportedly used to finance renovations of residences owned by Lee and his family. Police also discovered fresh bank accounts held by employees that Lee had used, Reuters reported, citing Yonhap News Agency.

The investigation comes days after Lee's son, Samsung heir Lee Jae-yong, was released from prison with a suspended sentence for corruption and bribing the country's previous president.

The 76-year-old Lee, who is incapacitated in a hospital in Seoul, was convicted for tax evasion but later pardoned by President Lee Myung-bak in 2009, the Financial Times said.

The company did not comment on the latest developments.

As of Feb. 7, US$1 was equivalent to 1,082.23 South Korean won.