Employee and Younger Sibling of Woori Bank Sent to Prosecution for Embezzling 61.4 Billion Won

Woori Bank Employee Mr. A Also Charged with Internal Document Forgery

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The police have handed over Woori Bank employee Mr. A and his younger brother to the prosecution on charges of embezzlement involving approximately 60 billion won.

Seoul Namdaemun Police Station sent Mr. A, a Woori Bank employee, and his younger brother to the prosecution on the morning of the 6th around 8 a.m. on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes. Additional charges of forgery and use of forged official documents, as well as forgery and use of forged private documents, were also applied to Mr. A.

Mr. A came out of the detention center wearing a black hat pulled down and moved toward the back gate of the police station. Shortly after, his younger brother also moved toward the back gate wearing a black hat. During the transfer process, they were asked questions about where the embezzled funds were used but did not respond.

Previously, it was reported that Mr. A embezzled approximately 61.4 billion won in company funds in three instances: 17.3 billion won and 14.8 billion won by check in 2012 and 2015 respectively, and 29.3 billion won by bank transfer in 2018. The money Mr. A embezzled was the remaining contract deposit after Woori Bank had initially selected Iranian home appliance company Entekhap as the preferred negotiation partner but the deal fell through. It is also reported that Mr. A forged internal documents and obtained approvals during the embezzlement process.

On the 27th of last month, Woori Bank identified this criminal activity and filed a complaint with Namdaemun Police Station. Shortly thereafter, Mr. A voluntarily surrendered to the police station and was detained on the 30th of last month. His younger brother was also detained as an accomplice on the 1st.

They reportedly stated during police investigations that all the funds were used for derivative products and the younger brother’s business. A police official stated, “We are investigating the flow of funds of Mr. A and his younger brother as well as the possibility of additional accomplices.”

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