Ostem Implant, 188 Billion KRW Embezzlement by Finance Officer Reported... Exchange "Trading Halt"
[Asia Economy Reporter Ji Yeon-jin] Osstem Implant announced on the 3rd that it has filed a complaint against its finance management employee, Mr. Lee, on charges of embezzlement amounting to approximately 188 billion KRW. The scale of embezzlement corresponds to 91.81% of the company's equity capital.
The company stated, "This case involves embezzlement carried out solely by the finance management employee, and a complaint was submitted to the Gangseo Police Station in Seoul on December 31 of last year," adding, "We plan to take all necessary measures to recover the funds through proper legal procedures."
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The KOSDAQ Market Headquarters announced that from 8:35 AM on the same day until the decision on whether Osstem Implant will be subject to a delisting review, trading of Osstem Implant's shares will be suspended.
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