Extension of Detention Period for Former Osstem Implant Employee Accused of Embezzling 221.5 Billion Won

Lee Mo, who is accused of embezzling 221.5 billion KRW from Osstem Implant, is being transferred to the prosecution from Gangseo Police Station in Seoul on the 14th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Gong Byung-sun] The detention period of Lee Mo (45), a former employee of Osstem Implant who was arrested and indicted on charges of embezzling 221.5 billion won of company funds, has been extended.

On the 22nd, the Criminal Division 14 of the Seoul Southern District Court (Chief Judge Kim Dong-hyun) announced that an additional arrest warrant for Lee was issued the day before.

Under the Criminal Procedure Act, the maximum detention period from the time of arrest and indictment until the first trial verdict is six months. Lee's detention period was set to expire on the 27th of this month. However, the court issued a new warrant based on charges not included in the original warrant. Lee will be detained for up to six more months until the first trial verdict is delivered.

The new charges that led to the issuance of the new warrant involve Lee conspiring with his family to conceal embezzled company funds, violating the Act on the Regulation and Punishment of Criminal Proceeds Concealment. Last month, the prosecution additionally indicted Lee, his wife, younger sister, and sister-in-law on charges of violating this act.

Lee, who worked as the head of the finance team at Osstem Implant, embezzled 221.5 billion won from November 2020 to October last year. During this period, he transferred funds a total of 15 times from accounts holding company money to securities accounts under his name. It is known that he used the embezzled company funds for stock investments and other purposes. Lee was indicted in January on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.

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