None of the fines for these things are enough. It should be, like, the company is nationalized. The leadership is sentenced to years of community service and barred from working in the industry for life.
Oh wow, reading the wiki you linked, looks like that one exec really learned their lesson \s
On 5 April 2006, Sun Woo Lee, Senior Manager of DRAM at Samsung Electronics, entered into a plea bargain with the US Government for his involvement in the price fixing conspiracy.[5] Following the plea agreement he was sentenced to 8 months in prison and fined US$250,000.[6] Lee was subsequently promoted to President of Samsung Germany in 2009, and then President of Samsung Europe in 2014
edit/update: Oh, wow so Sun Woo Lee actually really lucked out as Korea focused more on making an example of the Samsung heir apparent https://en.wikipedia.org/wiki/Lee_Jae-yong
8 months in prison sucks, I totally concede that. Yet literally the deal they made looks like they were asked “Would you take the fall and go to prison for 8 months and then get paid millions per year afterward?”
That means that he managed to keep the fine small enough that Samsung made significantly more money off the price fixing than they ever lost from the fine. Hasn’t changed
😡
None of the fines for these things are enough. It should be, like, the company is nationalized. The leadership is sentenced to years of community service and barred from working in the industry for life.
Probably only gotta do that once for things to really change
Oh wow, reading the wiki you linked, looks like that one exec really learned their lesson \s
edit/update: Oh, wow so Sun Woo Lee actually really lucked out as Korea focused more on making an example of the Samsung heir apparent https://en.wikipedia.org/wiki/Lee_Jae-yong
8 months in prison sucks, I totally concede that. Yet literally the deal they made looks like they were asked “Would you take the fall and go to prison for 8 months and then get paid millions per year afterward?”
Going to jail as a poor person means you lose your job
Going to jail as a rich person apparently gets you a promotion
Interesting
That means that he managed to keep the fine small enough that Samsung made significantly more money off the price fixing than they ever lost from the fine. Hasn’t changed
https://www.axios.com/google-facebook-fines-profits--134d3567-1052-4d9d-aa70-dc7c25ed4ebf.html
Cost of doing business really
Doesn’t the mob and other syndicates do something like that as well? Gotta do some time and not snitch to move up in the ranks.
“They gave their freedom for this company!” - Some corrupt executive somewhere