'Ostem Implant 188 Billion Embezzlement' Police Conduct Two-Track Investigation Tracking Fund Flow and Suspect

Seoul Gangseo Police Station

[Asia Economy Reporter Yoo Byung-don] The police investigating the case of an Ostem Implant employee embezzling 188 billion won of company funds have detected signs that the embezzled money was dispersed across multiple accounts and are tracking the flow of funds.

The Gangseo Police Station in Seoul confirmed that the embezzled funds were withdrawn through multiple routes from several accounts and is reportedly in the process of freezing these accounts.

A police official stated on the 4th, "We are conducting investigations in two directions: tracing the accounts and apprehending the suspect, as the embezzled funds appear to be spread across multiple accounts."

Additionally, the police are making every effort to track the whereabouts of Lee (45), who has been identified as the suspect. Since Lee disappeared on the 30th of last month and a travel ban was imposed on the 31st, the investigation is also considering the possibility of him leaving the country.

Meanwhile, Ostem Implant filed a complaint with the Gangseo Police Station in Seoul on the 31st of last month against Lee, who was in charge of the company's fund management, on charges of embezzlement in the course of duty (violation of the Act on the Aggravated Punishment of Specific Economic Crimes, etc.).

The estimated amount embezzled is 188 billion won, which accounts for 91.81% of Ostem Implant’s equity capital of 204.7 billion won. It is believed to be the largest embezzlement case ever recorded in a listed company.

In the securities industry, there is analysis suggesting that Lee might be the same individual as the so-called "super ant," who is presumed to have incurred evaluation losses by trading a large volume of Dongjin Semichem stocks last year.

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