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Samsung chief accused of illegally using borrowed names
By Kim Hyun
SEOUL, March 24 (Yonhap) -- A special prosecutor's team has found that a dozen former and incumbent executives of Samsung Group allowed the group's chairman to use their names to cover up his ownership of a major stake in Samsung Life Insurance, the group's de-facto holding company, an investigator of the team said.
The discovery sparked allegations that Lee Kun-hee may have masterminded the illegal use of borrowed names to avoid inheritance taxes when he took over part of his wealth from his late father, the group's founder Lee Byung-chul, and when he transferred it to his son and heir apparent Jae-yong.
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