Court Approves Evidence Preservation Request for Samdeok Accounting Corporation's Audit Report on Osstem Implant

Ostem Implant Headquarters.

[Asia Economy Reporter Choi Seok-jin, Legal Affairs Specialist] The court has accepted a request for evidence preservation regarding the external audit documents of Ostem Implant, whose finance team leader is on trial for embezzling company funds amounting to approximately 220 billion KRW.

According to the court on the 16th, Judge Song Hye-young of the Seoul Central District Court Civil Division 56-7, who is presiding alone, approved the evidence preservation request for Ostem Implant's audit records filed by the law firm Hannuri, representing the small shareholders who suffered damages.

Previously, Hannuri filed the evidence preservation request for the audit records of Samduck Accounting Corporation, the external auditor of the company at the time the 2020 audit report was prepared, before initiating formal relief procedures on behalf of the small shareholders affected by the Ostem Implant embezzlement case.

The court ordered Samduck Accounting Corporation to submit all audit records prepared for the March 17, 2022 audit report to the court within seven days from the date of receipt of the decision.

Hannuri stated, "Once Samduck Accounting Corporation submits the audit records, we will thoroughly analyze them, decide on subsequent measures, and notify the small shareholders who suffered damages due to the embezzlement."

If the audit records reveal signs of mismanagement or complicity in embezzlement by Ostem Implant or confirm negligence on the part of Samduck Accounting Corporation, it is expected to aid the small shareholders' legal actions.

Ostem Implant's finance team leader, Mr. Lee (45, male), was arrested and indicted in January this year on charges of embezzlement under the Specific Economic Crimes Act for transferring 221.5 billion KRW of company funds to his personal securities accounts 15 times from November 2020 to October last year.

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