Samsung Securities offices raided by Seoul prosecutors

via Engadget


Samsung just can't catch a break these days. The sprawling company's securities division, Samsung Securities, got a surprise visit by some Seoul prosecutors Friday morning, who were after financial documents and hard drives. Samsung's cooperating fully, and continues to claim the allegations -- which include word of a $216 [£105.05m] million slush fund for bribing government officials -- are completely false.

We're glad to see that this latest spot of the trouble with the law doesn't directly involve Samsung Electronics, and investors seem to be betting that the end result won't have much of an impact on Samsung's actual solvency as a company, but it's not like this is exactly helping the Korean giant's brand.