Employee of Osstem Implant accused of embezzling 221.5 billion won sent to prosecution in custody... silent on questions

On the morning of the 14th, transferred to prosecution in custody
Police apply for seizure preservation and confiscation before indictment
Investigation of family and company associates as accomplices continues

Lee Mo, who is accused of embezzling 221.5 billion KRW of company funds from Osstem Implant, is being transferred to the prosecution from the Gangseo Police Station in Seoul on the 14th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Yoo Byung-don] Lee Mo (45, detained), an employee of Osstem Implant accused of embezzling 221.5 billion won of company funds, has been handed over to the prosecution.

Seoul Gangseo Police Station sent Lee, who is charged with embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes, to the prosecution at around 7:40 a.m. on the 14th. Lee, a member of Osstem Implant's financial management team, was arrested and investigated on suspicion of transferring 221.5 billion won from the corporate account to his personal account eight times since March last year.

Before being sent to the prosecution that day, Lee showed no response to reporters' questions about his motive and got into the transport vehicle without saying a word.

Earlier, the police identified the use of 188 billion won, the actual damage amount among the embezzled funds, and recovered the entire amount except for stock losses. This includes 855 gold bars weighing 1 kg each, purchased by Lee for 68.1 billion won. However, the 76.1 billion won loss from stock investments made by Lee is unrecoverable.

Additionally, on the 12th, the police applied for pre-indictment seizure and confiscation of Lee’s assets worth around 33 billion won, including real estate, stocks, and deposits. Pre-indictment seizure prevents the suspect from disposing of illegally acquired assets such as real estate before the court’s verdict. Pre-indictment confiscation is a measure to prevent the suspect from disposing of assets to recover the amount equivalent to the profits gained from the crime if the suspect has used such profits.

Along with this, the police conducted a search and seizure at Osstem Implant’s headquarters in Magok-dong, Gangseo-gu, to verify whether Lee’s statements matched the actual embezzlement process and to investigate suspicions of accomplices claimed by Lee. The case filed by the Committee for the Protection of Ordinary Citizens against Chairman Choi Gyu-ok and CEO Eom Tae-gwan for violating the Capital Markets Act (price manipulation) was also assigned to Gangseo Police Station.

Furthermore, the police have also booked and are investigating Lee’s wife, younger sister, and brother-in-law. Among them, Lee’s wife and sister-in-law were judged to be accomplices and charged with embezzlement and concealment of criminal proceeds.

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