Seoul  - Prosecutors on Thursday asked that former Samsung Group chairman Lee Kun Hee be sentenced to seven years in prison on charges of tax evasion and breach of trust.

Lee, 66, who was once the most powerful tycoon in South Korea, should also be made to pay a fine of 350 billion won (nearly 350 million dollars), prosecutors told the Seoul Central District Court, which was expected to deliver its verdict in the next several weeks.

The investigation into Lee and Samsung began after a former lawyer for the company accused Samsung of establishing slush funds from which to bribe public officials, but investigators were unable to prove those accusations in their three-month inquiry.

Prosecutors charged Lee on Tuesday, however, with following "private interests" and being involved in illegal transactions.

Lee has denied the charges against him and asked the court for leniency. He said that as the head of the family-run conglomerate, he had concentrated on looking into the future to ensure Samsung's survival amid international competition and had failed to keep a close eye on the conglomerate's inner workings.

He said, however, that he accepted full responsibility for the scandal that had enveloped the company, which produced more than 20 per cent of South Korea's exports last year.

Lee, who led the Samsung Group for 20 years, resigned in April after he was indicted on charges of evading 110 million dollars in taxes on profits made in stock trades and breach of trust over accusations that he had played an important role in the illegal transfer of power at Samsung to his only son, Lee Jae Yong.

Lee could receive a sentence of five years to life in prison if convicted of tax evasion, but other South Korean tycoons who have faced criminal charges have received lenient sentences by judges who said jailing the entrepreneurs could hurt the country's economy.

Nine other Samsung executives have been indicted in the scandal at the company where Samsung Electronics, the world's leading memory chip maker, is the chief corporation.

Since Lee's resignation, Samsung has announced an extensive reorganization. (dpa)