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Samsung BioLogics to face criminal investigation in accounting fraud scandal Updated: 2018-07-13 10:08:18 KST

And on to the latest on Samsung BioLogics and the accounting fraud scandal swirling around the firm.
The Financial Supervisory Service says. a 2015 accounting breach by the Samsung affiliate was *intentional and the biopharmaceutical firm clearly violated accounting rules.
The financial regulator adds it will refer the case to the prosecution.
The decision comes after a months-long review of the company's book-keeping when it switched in 2015 to valuing its stakes in drugmaker Samsung Bioepis. at fair market value instead of at book-value.
Following the announcement,. Samsung BioLogics expressed regret, adding that it had no "motive" to intentionally violate accounting rules and that it will consider taking legal action against the ruling.
KOGL : Korea Open Government License
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