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Financial regulator asks prosecutors to launch probe into Samsung BioLogics

2018-11-20 3 Dailymotion

금융위 산하 증선위 오늘 '분식회계' 혐의 삼성바이오 검찰에 고발<br /><br />Seoul's financial regulator formally asked state prosecutors to launch a criminal probe into the accounting practices of Samsung BioLogics, the biopharmaceutical arm of Samsung Group, on Tuesday.<br />This comes after the Securities and Futures Commission suspended trading of Samsung BioLogics' shares on the benchmark KOSPI last week for intentionally breaching accounting standards.<br />The company is also subject to punitive examination for delisting.<br />The regulator argued Samsung BioLogics had inflated its value by nearly 4-billion U.S. dollars in 2015 by changing the method used to calculate its majority stake in Samsung Bioepis, its unlisted partner.<br />Samsung has denied any wrongdoing. <br />

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