LG Uplus Employee Who Embezzled Billions of Company Funds and Fled Abroad Returns to Korea... Arrested and Sent to Prosecution

by Kong Byeongseon

Published 20 Jun.2022 11:02(KST)

Updated 20 Jun.2022 16:03(KST)

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Yongsan Police Station, Seoul / Photo by Yonhap News

[Asia Economy Reporter Gong Byung-sun] An LG Uplus employee who embezzled billions of won from company funds and fled overseas voluntarily returned to the country. The police investigated the employee and sent him to prosecution in custody.

On the 20th, the Yongsan Police Station in Seoul announced that they arrested and investigated Mr. A, a team leader-level employee of LG Uplus suspected of breach of trust and fraud, at Incheon International Airport earlier this month, and sent him to the Seoul Western District Prosecutors' Office in custody on the 10th.

During the police investigation, Mr. A reportedly mostly admitted to the charges by writing a confession. Although the damage was initially reported to be 8 billion won, it was found to be less than that upon investigation.

It is known that Mr. A voluntarily returned due to financial difficulties. Additionally, it was reported that he feared being scapegoated as his relationship with the agency owners who conspired with him deteriorated.

Earlier, LG Uplus confirmed that Mr. A embezzled company funds and filed a complaint with the police on March 24 after conducting an internal investigation. However, Mr. A had already left for the Philippines, and the police notified immigration upon his entry. The police were informed by the airport that Mr. A entered the country earlier this month and arrested him at the airport. After the arrest, the police applied for and obtained an arrest warrant.

Mr. A was an employee in charge of multi-line sales such as Internet Protocol TV (IPTV). He is known to have embezzled company funds by colluding with agencies to create false contracts and intercepting the commissions the company paid to the agencies.