[SEOUL] A South Korean court said on Saturday it had approved warrants to arrest two senior officials at Samsung Electronics in relation to an alleged accounting fraud at the tech giant's biopharma affiliate.
The Seoul Central District Court said in a statement it had granted warrants to arrest the officials suspected of destroying evidence in the case. Prosecutors accused the two Samsung Electronics officials of ordering employees at biopharmaceutical firm Samsung BioLogics to destroy internal documents, as authorities looked into an alleged violation of accounting rules at the BioLogics, according to local media reports.
Samsung BioLogics has been touted as a new growth engine for the corporate empire that includes crown jewel Samsung Electronics amid a slowdown in the global smartphone market.REUTERS
Source: News Formal (newsformal.com)
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