Woori Bank Employee Embezzling 61.4 Billion Won Suspected of Forging Internal Documents... Possibility of Additional Charges

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The police have detected signs that a Woori Bank employee accused of embezzling 61.4 billion won forged internal documents and have launched an investigation.

According to the police on the 3rd, the Seoul Namdaemun Police Station is additionally investigating the forgery of internal bank documents during the crime committed by Woori Bank employee A, who was arrested on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.

In 2012 and 2015, A reportedly deceived by claiming to entrust money to a real estate trust company and obtained approval from the responsible manager. During this process, he withdrew 17.3 billion won and 14.8 billion won respectively by check.

In 2018, he forged a document stating that the Korea Asset Management Corporation (KAMCO) would manage the money, obtained approval, and then embezzled 29.3 billion won into his own account. It is known that the bank did not thoroughly verify the facts of A’s actions during this process. The Financial Supervisory Service conducted a total of 11 comprehensive and sectoral inspections of Woori Bank from 2012 to 2018 but reportedly failed to detect such criminal acts.

Earlier, A was arrested on the 30th of last month on charges of embezzling approximately 61.4 billion won. A’s younger brother, who is suspected of being an accomplice in the same charges, was also arrested on the 1st. The police plan to investigate the forgery of internal documents and whether there are accomplices other than the younger brother.

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