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Deep
Blue Group:  S Korean fraud conviction
case back in court

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Deep
Blue Group:  S Korean fraud conviction
case back in court

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Source

South Korea’s supreme court has ordered a review of the fraud conviction of one of the country’s leading businessmen, reviving what is widely seen as a test case of the judiciary’s approach to criminal behaviour among the corporate elite.

Kim Seung-youn, chairman of Hanwha Group – one of South Korea’s largest chaebol conglomerates – was given afour-year jail sentence and $4.5m finein August last year, after being convicted of misusing company funds.

However, the supreme court ordered on Thursday that Mr Kim’s case should be examined again by a lower court, saying that more detailed proof was needed to justify the sentence. Mr Kim’s sentence had already been commuted to three years, and he has been in hospital since January on account of depression and breathing problems.

Thursday’s decision opens the possibility of a reduction in a sentence that was hailed as reflecting a newly tough approach towards business leaders, amid popular unhappiness at the perceived excessive power of the major corporations. Previous convictions of chaebol chiefs – including Mr Kim, Lee Kun-hee of Samsung and Chung Mong-koo of Hyundai – had typically resulted in suspended sentences.

“The media here regard [Mr Kim] as the epitome of what is bad about the chaebol,” said Shim Jae-hoon, an independent political commentator, citing Mr Kim’s previous suspended sentence for abducting and assaulting workers in a karaoke bar. “The courts are mindful of public opinion on this case . . . I don’t think they will let him off the hook.”

A second highly anticipated decision will come on Friday, when a court will rule on an appeal by Chey Tae-won, chairman of SK Group, another of the country’s biggest business groups. Mr Chey was sentenced to four years in prison in January, for embezzling company funds for use in personal investments.

Some analysts viewed the courts’ stern treatment of Mr Kim and Mr Chey as reflecting thepolitical mood of last year’s presidential campaign], in which the leading candidates promised to deliver “economic democratisation”. Park Geun-hye, president since February, has promised to abandon the practice of her predecessor Lee Myung-bak, who pardoned several business leaders on the basis of their importance to the economy.

Kim Sang-jo, an economics professor at Hangsung University, said that any dilution of Mr Kim’s or Mr Chey’s sentence would be taken as a sign of diminished resolve from the courts. “Last year, the judiciary took a tougher stance against tycoons convicted of white collar crimes, but its attitude seems to be changing as politicians step back from their push for economic democracy,” he said.

However, Lee Ji-soo, an analyst at the Centre for Good Corporate Governance in Seoul, said it was too early to criticise the supreme court’s decision. “It’s a technical aspect . . . in order to prove the case, the supreme court is demanding the lower court show some more findings,” he said. “I don’t think there’s anything wrong with that.”

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Three
Tax Scams to Beware of This September

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Three
Tax Scams to Beware of This September

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Deep Blue Group, Three Tax Scams to Beware of This September

The IRS wants you to know about three common year-round scams: identity theft, phishing and return preparer fraud.

Are you thinking about taxes while you’re enjoying the warm summer months? Not likely! But the IRS wants you to know that scammers ARE thinking about taxes and ways to dupe you out of your money.

Tax scams can happen anytime of the year, not just during tax season. Three common year-round scams are identity theft, phishing and return preparer fraud. These schemes are on the top of the IRS’s “Dirty Dozen” list of scams this year. They’re illegal and can lead to significant penalties and interest, even criminal prosecution.

Here’s more information about these scams that every taxpayer should know.

1. Identity Theft. Tax fraud by identity theft tops this year’s Dirty Dozen list. Identity thieves use personal information, such as your name, Social Security number or other identifying information without your permission to commit fraud or other crimes. An identity thief may also use another person’s identity to fraudulently file a tax return and claim a refund.

The IRS has a special identity protection page on IRS.gov dedicated to identity theft issues. It has helpful links to information, such as how victims can contact the IRS Identity Theft Protection Specialized Unit, and how you can protect yourself against identity theft.

2. Phishing. Scam artists use phishing to trick unsuspecting victims into revealing personal or financial information. Phishing scammers may pose as the IRS and send bogus emails, set up phony websites or make phone calls. These contacts usually offer a fictitious refund or threaten an audit or investigation to lure victims into revealing personal information. Phishers then use the information they obtain to steal the victim’s identity, access their bank accounts and credit cards or apply for loans. The IRS does not initiate contact with taxpayers by email to request personal or financial information. Please forward suspicious scams to the IRS at phishing@irs.gov. You can also visit IRS.gov and select the link “Reporting Phishing” at the bottom of the page.

3. Return Preparer Fraud. Most tax professionals file honest and accurate returns for their clients. However, some dishonest tax return preparers skim a portion of the client’s refund or charge inflated fees for tax preparation. Some try to attract new clients by promising refunds that are too good to be true.

Choose carefully when hiring an individual or firm to prepare your return. All paid tax preparers must sign the return they prepare and enter their IRS Preparer Tax Identification Number (PTIN). The IRS created a webpage to assist taxpayers when choosing a tax preparer. It includes red flags to look for and information on how and when to make a complaint. Visit www.irs.gov/chooseataxpro.

For the full list of 2013 Dirty Dozen tax scams, or to find out how to report suspected tax fraud, visit IRS.gov.

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Deep Blue Group Project Solutions Reviews: The Post-Fukushima Nuclear Industry

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Deep Blue Group Project Solutions Reviews: The Post-Fukushima Nuclear Industry

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Deep Blue Group Project Solutions Reviews

At the recent International Atomic Energy Agency (IAEA) Ministerial Conference in St. Petersburg (June 2013), director general Yukiya Amano repeated the familiar platitudes about Fukushima that deflect and deny the heavy responsibility of the IAEA and the Japanese nuclear establishment for having failed to prevent the catastrophe – one that every anti-nuclear group in Japan had been warning about for years. In a report on the conference published by The Hindu, Mr. Amano refers to Fukushima as not a disaster, accident or catastrophe, but as a “tragedy,” a word that suggests it was caused by cruel gods rather than human failings. He went on to repeat the familiar trope about “lessons learned” and the effective steps taken to make nuclear power plants safer.

Such statements from the head of the global nuclear establishment are emblematic of what is argued below: in trying to sustain itself against mounting evidence that points to its unacceptable dangers and costs, the nuclear industry has resorted to deceit and self-deception. Psychological experiments have revealed that deceit is soon followed by self-deceit, all the better to make the deception more likely to succeed. This strategy may be an evolved mechanism of the brain, and it may succeed in the short term, in terms of the reproductive success of an organism, but it can come at a high cost to individuals and groups over the long term. The vicious circle of deceit and self-deceit reaches a point at which the inconsistencies become absurd to outsider observers.

It is notable that Mr. Amano made comments that mostly reflect the responsibility of the IAEA to promote nuclear power, but not the responsibility to guarantee safety. Many regulatory bodies have been captured by the industries they are supposed to oversee, but the IAEA doesn’t even have to pretend that it operates at arm’s length from industry. It is the founding mission of the IAEA to promote nuclear power, in addition to advancing safety. It is as if the U.S. Environmental Protection Agency could be proud of promoting British Petroleum and Union Carbide, or as if the Federal Aviation Administration spent much of its budget on convincing the public to use airplanes instead of trains and cars.

At the conference in St. Petersburg, Mr. Amano touted the fact that, unlike in the aftermath of the Chernobyl accident when nuclear expansion stopped, many countries are building their first nuclear power plants, in spite of the Fukushima “tragedy.” He even suggested “growth could be much higher,” and he claimed “nuclear power actually has a very good safety record” and is a “tried and tested technology.” Mr. Amano added that it has advantages over fossil fuels and renewable sources of power. There are uranium resources that can last for thousands of years in fast neutron reactors, he says, and nuclear provides a steady supply of electricity at stable prices with low greenhouse gas emissions. After finishing this advertisement, he got around to saying something about safety, admitting that it was the “number one challenge” for the nuclear industry.

This simple, easily digested message intended for mass consumption (not for the audience in the room) actually reveals much about the psychology of nuclear promotion. We could ask what scenario, if any, would prompt the IAEA to give up promotion of nuclear energy and lead the world toward alternatives. Before 2011, we might have thought that the answer was a triple meltdown and the barely averted evacuation of Tokyo. The 50-year, trillion-dollar cleanup (estimates vary wildly, but they have been in the hundreds of billions so far) should have been the final nail in the coffin. It was the nightmare scenario that we were promised could never happen.

What about something worse, but still of a higher probability than we would like to admit, such as the destruction of a spent fuel pool near a large metropolis? That event would require the evacuation of millions of people, if the authorities were brave enough to admit the necessity. Based on what happened during the Fukushima catastrophe, we can conclude that it’s more likely the authorities would decide that the future cancer cases were preferable to the economic damage and the deaths caused by a panicked evacuation. The truth of the situation would be revealed in stages in the hope that the depopulation of the city could be done over several months. Nonetheless, you can bet that the director general of the IAEA, and every other representative of the nuclear industry, would be feeding the media with statements about how lessons have been learned and nuclear is still a feasible alternative to fossil fuels. The cup is always half full, regardless of what happens.

Future generations will be the ones to decide whether nuclear leaders were evil or simply misguided, but their predicament brings to mind some well-known fictional characters who found themselves ensnared by the “insane root that takes the reason prisoner” (Macbeth I.III.83). Once a person has committed to an errant path, evidence of mistakes will not be sought, and if they are found, they will be ignored and denied. The farther the person goes, the worse the self-deception gets. The situation might seem appalling to outside observers, but the traveler on the path will delude himself or put on a brave face.

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Deep Blue Group Project Solutions Reviews: The Post-Fukushima Nuclear Industry

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Deep Blue Group Project Solutions Reviews: The Post-Fukushima Nuclear Industry