40s Woman Embezzling 9.4 Billion Won for Luxurious Life Says "Original Sentence Is Too Harsh" ... Sentence Increased in Appeal Trial

Ulsan District Court, where the Ulsan Branch of the Busan High Court is located.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] A bold woman in her 40s who was prosecuted for embezzling company funds amounting to 10 billion won appealed to reduce her sentence, but her sentence was instead increased.

On the 18th, the Criminal Division 1 of the Ulsan Branch of the Busan High Court (Presiding Judge Park Hae-bin) announced that it overturned the original sentence of 8 years imprisonment for Ms. A, who was charged with embezzlement in the course of business, and sentenced her to 10 years imprisonment.

Ms. A is accused of embezzling approximately 9.45 billion won in company funds over about 2,300 occasions from October 1998 to June 2019 while managing funds at two major corporate partner companies producing automotive painting supplies.

According to the court, Ms. A joined a parent company as an accountant in 1998, handling fund management such as payment to business partners and employee salary disbursement. After moving to another company in 2015, she worked as an executive in the management department, overseeing fund management.

Ms. A committed the crime by first paying company partner payments and insurance premiums using her own bank account or credit card, then transferring company funds to her own account by inflating the amount transferred beyond the actual amount spent.

Using this method, Ms. A embezzled money to purchase cars and luxury goods and enjoyed a lavish lifestyle including overseas travel.

Due to Ms. A’s crimes, employees did not receive their salaries, and one company reportedly faced management difficulties and eventually went bankrupt.

The appellate court explained the reason for the increased sentence, stating, “The defendant committed crimes repeatedly over a long period and used dishonest methods such as recording false transaction details to conceal the crimes. The victims desire severe punishment, which was taken into consideration.”

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