'9.4 Billion Embezzlement' KB Savings Bank Employee Sent to Prosecution
Fraud and Forgery Charges under the Special Act on Countermeasures
[Asia Economy Reporter Jang Sehee] An employee of KB Savings Bank who embezzled nearly 10 billion won of company funds over six years has been sent to the prosecution.
On the 13th, the Songpa Police Station in Seoul announced that at around 8:30 a.m. that day, Mr. A, who is accused of fraud and forgery of private documents under the Act on the Aggravated Punishment of Specific Economic Crimes, was sent to the Seoul Eastern District Prosecutors' Office.
Mr. A is suspected of embezzling 9.4 billion won of company funds over six years from May 2015 to October last year. Initially, the embezzled amount detected through the bank's internal audit was 3 billion won, but the amount increased more than threefold as the police investigation proceeded.
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Police investigations confirmed that more than 90% of the embezzled money was squandered on gambling. There were no accomplices, and Mr. A reportedly admitted to the crime.
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