'Ostem Implant Employee Involved in 221.5 Billion Embezzlement Faces 2nd Asset Seizure... 114.4 Billion Won Frozen'

Real Estate Rent Payment Claims, Imported Cars, Deposit Claims, etc.

Lee Mo, who is accused of embezzling 221.5 billion won 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] The criminal proceeds of Lee Mo (45, detained), an employee of Osstem Implant accused of embezzling 221.5 billion won of company funds, have been frozen once again.

On the 23rd, the Seoul Southern District Court announced that it recently approved the seizure preservation of Lee's assets amounting to 114.4174 billion won. The seizure preservation targets include Lee's real estate lease claim rights, three imported cars, bank deposits, bonds, and 445 million won in cash seized at the time of arrest.

Seizure preservation is a measure that prevents the disposal of assets such as real estate to collect an amount equivalent to the profits obtained from a crime if the suspect uses the illicit gains.

The lease claim right refers to the amount that can be collected as rent when real estate purchased with criminal proceeds is leased to others as housing or commercial property. The court had also frozen criminal proceeds worth approximately 33 billion won of Lee's assets on the 18th of last month.

Meanwhile, Lee is accused of transferring 221.5 billion won from the corporate account to his personal account eight times since March last year. It is known that Lee used the embezzled money for stock investments, resulting in losses of about 76.1 billion won. The prosecution arrested and indicted Lee on the 28th of last month.

Separately from the trial, the police are currently investigating Lee's wife, younger sister, and brother-in-law. Among them, Lee's wife and sister-in-law are considered accomplices and face charges of embezzlement in the course of business and concealment of criminal proceeds.

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