Supreme Court Overturns Appellate Ruling in Case of Former Samyang Foods Chairman Jeon In-jang

 

 

 

 

The Supreme Court has ordered a retrial of the appellate court ruling on Jeon In-jang, former chairman of Samyang Foods, who was indicted for issuing a large amount of fraudulent tax invoices using paper companies.

On the 27th, the Third Division of the Supreme Court (Presiding Justice Lee Heung-gu) overturned the appellate ruling, which sentenced Jeon to one year and six months in prison with a three-year suspended sentence and a fine of 650 million won for violating the Act on the Aggravated Punishment of Specific Economic Crimes (Issuance of Fraudulent Tax Invoices, etc.), and remanded the case to the Seoul High Court for retrial.

The appellate court had acquitted Jeon of charges related to violations of the Tax Crimes Punishment Act concerning external transactions of two affiliates he operated. However, the Supreme Court determined that this aspect required reconsideration.

Jeon was prosecuted for issuing fraudulent tax invoices worth 53.8 billion won through two paper companies he operated between 2010 and 2017.

In the first trial, he was sentenced to three years in prison with a five-year suspended sentence and a fine of 19.1 billion won. However, in the second trial, some charges were dismissed, and his sentence was reduced to one year and six months in prison with a three-year suspended sentence and a fine of 650 million won.

The Supreme Court, however, pointed out that "the affiliates registered for business under the names of paper companies, and there is evidence suggesting that the tax invoices were issued fraudulently for embezzlement rather than actual business operations," adding that "the external transactions may also constitute the issuance of fraudulent tax invoices."

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Supreme Court Overturns Appellate Ruling in Case of Former Samyang Foods Chairman Jeon In-jang