Samsung America Director Arrested For Wire Fraud

Law360, New York (July 19, 2007, 12:00 AM EDT) -- A former Samsung America Inc. executive was arrested on Thursday by special agents from the FBI and IRS Criminal Investigation Division over allegations that he had embezzled around $1.5 million from the company.

John Y. Lee, who was the Director of Samsung America's Korea Export Department, was arrested at his home in the morning. He was fired from the company after the alleged scheme was revealed, the U.S. Attorney's office in New Jersey said.

According to the criminal complaint, Lee engaged in an elaborate fraud scheme...
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