Police Request Arrest Warrant for Ostem Implant Employee Accused of Embezzling 188 Billion Won (Comprehensive)

"Best Efforts to Recover Embezzled Funds... Investigation into Accomplice Status Underway"

Emo (45), a suspect in embezzlement arrested by the police, is entering the Gangseo Police Station in Seoul on the 6th. [Image source=Yonhap News]

[Asia Economy Reporter Lee Gwan-joo] The police have requested an arrest warrant for Lee Mo (45), the head of the finance management team at Osstem Implant, who embezzled 188 billion won of company funds.

On the 7th, the Gangseo Police Station in Seoul announced that they had applied for an arrest warrant for Lee on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.

A police official stated, "We will do our best to recover the remaining damages during the investigation process and continue to investigate whether there are any accomplices involved in this crime."

The police froze stocks worth approximately 25 billion won in securities accounts under Lee's name to recover the damages, and seized 497 kg of gold bars and 430 million won in cash at the time of his arrest.

Additionally, they plan to apply for seizure and confiscation preservation before prosecution for real estate worth tens of billions of won confirmed to have been purchased with the embezzled funds.

Lee, who embezzled 188 billion won while serving as the head of the finance management team at Osstem Implant, was arrested at his home building on the 5th and is currently under police investigation. On the same day, the police summoned two finance team employees as witnesses for questioning.

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