Employee of Gyeonggi Gwangju Regional Nonghyup Arrested for Embezzling 4 Billion Won to Fund Gambling

[Asia Economy Reporter Yoo Byung-don] A Nonghyup employee who embezzled approximately 4 billion won of company funds to finance sports gambling has been arrested.

On the 17th, Judge Kim Jeong-seok, in charge of warrants at the Suwon District Court Seongnam Branch, held a pre-arrest suspect interrogation (warrant substantive examination) for A (36), an employee of the Gyeonggi Gwangju Regional Nonghyup, who is accused of violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement), and issued an arrest warrant citing "risk of evidence destruction and flight."

A is suspected of embezzling funds by transferring bank money to others' accounts from April onwards to recover losses incurred from gambling such as Sports Toto.

He was an employee responsible for cash handling at the bank and was known to manage cash collected at branches within each region. Nonghyup confirmed a large amount of money missing during the inspection of the petty cash (money remaining in the vault after lending out customer deposits) and reported it to the police at 9:17 p.m. on the 14th.

Investigations revealed that he committed the crime to recover losses from Sports Toto and virtual currency investments.

The police plan to investigate the detailed circumstances of the case with the arrested A.

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