'221.5 Billion KRW Embezzlement' Osstem Implant Employee's First Trial Begins March 2

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

[Asia Economy Reporter Yoo Byung-don] The first trial of Lee Mo (45, detained), the finance team leader of Osstem Implant who is accused of embezzling 221.5 billion won of company funds, will begin on March 2.

The Criminal Division 14 of the Seoul Southern District Court (Chief Judge Kim Dong-hyun) will hold the first hearing at 2:30 p.m. on the 2nd of next month for Lee Mo (45), the head of Osstem's fund management team, who was arrested and indicted on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.

Lee is accused of transferring 221.5 billion won in 15 installments from the company’s account containing Osstem Implant funds to a securities account under his name and using it for personal stock investments while serving as the finance team leader of Osstem Implant from November 2020 to October last year. Of the embezzled 221.5 billion won, 33.5 billion won was returned to the company after withdrawal, and the damage is known to be 188 billion won.

The prosecution is making every effort to recover the damages, including returning 855 gold bars (855 kg) worth approximately 69 billion won at market price, which Lee purchased with the embezzled funds, to the company before the final verdict to prevent damage to minority shareholders.

Separately, as the police investigation into whether Lee’s family and company executives conspired in the crime is still ongoing, there is concern that the trial may be prolonged if additional indictments are made during the trial process.

The police are currently investigating Lee’s wife, younger sister, and sister-in-law and her husband, and Lee’s wife and sister-in-law are considered accomplices and face charges of embezzlement and concealment of criminal proceeds.

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