NongHyup Employee's "2.7 Billion Illegal Loan" Due to Stock Failure... "Using Mother and Relatives' Names"

Prosecution Seeks 10-Year Prison Sentence

Photo by Yonhap News

[Asia Economy Reporter Na Ye-eun] The prosecution has requested a 10-year prison sentence for an NH Nonghyup Bank employee who illegally borrowed money using the names of relatives to recover losses from stock investment failures through cryptocurrency investments.

On the 30th, the Jeju District Prosecutors' Office announced that at the sentencing hearing held at the Jeju District Court Criminal Division 2 (Chief Judge Kang Chan-su), they requested a 10-year prison sentence for NH Nonghyup Bank employee A (40), who was indicted on charges including violation of the Act on the Aggravated Punishment of Specific Economic Crimes (breach of trust).

From October 2019 to last March, while working in loan services at an NH Nonghyup Bank branch in Seogwipo City, Jeju, A illegally borrowed approximately 2.75 billion KRW in seven separate instances using the names of his mother and other relatives.

After consecutive failures in stock investments, he committed these crimes and invested the illegally borrowed money in cryptocurrency, but it was confirmed that most of this money was lost.

On the 30th, the prosecution stated, "A's house, retirement pension, and car are planned to be used to repay the damages, but the amount is about 400 million KRW. It is difficult to repay the remaining amount. This case could lead to a loss of trust in financial institutions, so strict punishment is necessary."

In his final statement, A tearfully said, "I apologize to those who suffered mental and physical damage because of me, especially my family and colleagues who trusted me."

Meanwhile, the sentencing hearing for A is scheduled to be held at 10 a.m. on October 28.

This content was produced with the assistance of AI translation services.