Woori Bank Embezzlement Accomplices More... Police "Investigating Additional Participants in the Crime" (Comprehensive)

On the Morning of the 6th, Woori Bank Employee Mr. A and His Younger Brother Sent to Prosecution

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] An employee of Woori Bank accused of embezzling 61.4 billion won, along with his younger brother and other accomplices, has been apprehended by the police. Meanwhile, the Woori Bank employee A and his younger brother, who are accused of embezzling 61.4 billion won, have been sent to the prosecution.

According to the police on the 6th, on the 4th, the police announced that they had arrested and were investigating B, an acquaintance of Woori Bank employee A, on charges of violating the Act on the Regulation of Concealment of Criminal Proceeds. Around 3:30 p.m. that day, B was scheduled to undergo a warrant hearing at the Seoul Central District Court.

B was investigated as a full-time stock investor who assisted A in derivative product trading. The method involved providing chart trading signals when A conducted derivative product trades. Currently, B is reportedly denying knowledge that the funds were embezzled.

B reportedly testified to the police that he was in charge of IT operations at a subsidiary of Woori Financial Group from 2003 to 2009. He met A while working in IT at the subsidiary. Additionally, he is said to have testified that he was dispatched to the head office from 2005 to 2008. The police stated that they are currently verifying B’s employment at the Woori Financial Group subsidiary and the period of dispatch to the head office.

A and his younger brother were handed over to the prosecution around 8 a.m. that day. The Seoul Namdaemun Police Station sent Woori Bank employee A and his younger brother to the prosecution at approximately 8:01 a.m. on the 6th on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes. Additional charges against A include forgery and use of official documents and forgery and use of private documents.

On that day, A covered his face with a black hat and mask and moved through the back door of the police station. Shortly after, his younger brother also covered his face and moved through the back door. They remained silent when questioned about how the embezzled funds were used.

Earlier investigations revealed that A embezzled company funds totaling 61.4 billion won 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 embezzled funds were leftover contract deposits after Woori Bank’s prior negotiation with Iranian home appliance company Entekhap fell through. Additionally, A is known to have forged internal and external documents during the embezzlement process.

During police investigations, A reportedly stated that the embezzled money was used for derivative product trading and investments in his younger brother’s business. The police explained that the younger brother also admitted to providing accounts to A and using the embezzled funds for business purposes, despite knowing the money was embezzled.

A police official stated, "Even after the transfer to prosecution, we will continue to track the flow of embezzled funds and focus on recovering the damages," adding, "We will also continue investigations into whether there are additional participants in the crime."

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