Police Conduct Search and Seizure at Three Residences Including Family Home of Ostem Implant Embezzlement Employee's Wife

Ostem Implant employee Lee Mo (45), accused of embezzling company funds, is entering the Gangseo Police Station in Seoul on the morning of the 6th. [Image source=Yonhap News]

[Asia Economy Reporter Yoo Byung-don] Lee, who embezzled 221.5 billion KRW from Ostem Implant (45, detained) , had police conduct a search and seizure at three family residences.

On the afternoon of the 10th, the Gangseo Police Station in Seoul carried out search and seizure operations at the homes of Lee's wife, father, and younger sister in Paju, Gyeonggi Province, to investigate whether they were accomplices.

The search and seizure appear to have been conducted to secure evidence on whether the embezzled company funds flowed to Lee's family, or if they conspired in advance, or helped with escape or hiding.

The police formally booked Lee's wife and sister-in-law and are investigating their involvement in the conspiracy. It was previously revealed that Lee used the embezzled funds to purchase real estate worth 7.5 billion KRW under the names of his wife and sister-in-law. Additionally, he bought an apartment and officetel in Paju, Gyeonggi Province, under his wife's name for 2.89 billion KRW, and an apartment in Goyang, Gyeonggi Province, under his sister-in-law's name for 1.65 billion KRW. He also purchased a luxury resort membership in Jeju Island worth over 3 billion KRW under his wife's name.

Furthermore, before going into hiding, he reportedly gifted commercial buildings he owned to his wife and sister-in-law's husband, one building each, and repaid the loans tied to those buildings.

Lee's wife was on a different floor of the same building when Lee was arrested on the 5th of this month. This building was previously gifted by Lee to his wife, and the fourth floor serves as their residence.

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