'600 Billion Won Embezzlement' Woori Bank Younger Sibling Appeals Against First Trial Verdict

[Asia Economy Reporter Kim Hyung-min] The younger brother of a Woori Bank employee, who was sentenced to a heavy prison term in the first trial for embezzling company funds worth around 60 billion won, has filed an appeal against the verdict.

According to the court on the 11th, among the brothers Jeon Mo (43), the younger brother submitted an appeal to the Seoul Central District Court Criminal Division 24 (Chief Judge Jo Yong-rae), which handled the first trial, on the 7th. It is reported that the elder brother Jeon has not yet filed an appeal.

They were indicted while in custody on charges of embezzlement and property concealment abroad under the Act on the Aggravated Punishment of Specific Economic Crimes, and on the 30th of last month, they were each sentenced to 13 years and 10 years in prison, respectively, along with a fine of approximately 32.37 billion won per person.

Jeon was indicted in May on charges of embezzling company funds from October 2012 to June 2018 while working in the Corporate Improvement Department at Woori Bank’s headquarters, using the money for stock index option trading. He was also charged with forging documents to conceal the crime and conspiring with his younger brother to divert part of the embezzled funds to overseas paper company accounts. The first trial found most of the charges to be guilty.

Earlier, the Seoul Central District Prosecutors’ Office Crime Proceeds Recovery Division (Chief Prosecutor Im Se-jin) also filed an appeal on the 6th, requesting the first trial verdict be overturned and remanded so that the trial can be redone from the beginning.

This content was produced with the assistance of AI translation services.