Prosecutors Seek Arrest Warrant For Samsung BioLogics CEO In Alleged Fraud Case - Reports

South Korean prosecutors on Wednesday sought an arrest warrant for Kim Tae-han, the CEO of Samsung BioLogics, in the wake of an investigation into alleged accounting fraud, local media reported

MOSCOW (UrduPoint News / Sputnik - 22nd May, 2019) South Korean prosecutors on Wednesday sought an arrest warrant for Kim Tae-han, the CEO of Samsung BioLogics, in the wake of an investigation into alleged accounting fraud, local media reported.

The Yonhap news agency said, citing the Seoul Central District Prosecutors' Office, that Kim allegedly instructed Samsung BioLogics employees to destroy evidence of accounting fraud in the company.

Prosecutors have been looking into allegations that Samsung BioLogics violated accounting rules in order to inflate value of Samsung Bioepis, which is a subsidiary of the company.

Last week, prosecutors conducted searches in the office of Samsung's task force office and Samsung BioLogics looking for accounting data and hard disks. Moreover, earlier on Wednesday, the prosecutor's office said that it had a significant evidence showing that Samsung Bioepis' executive tried to delete data on his phone talks with Samsung's heir apparent, in which the former reported about prosecutors' intention to file a complaint over alleged fraud last year.