Prosecutors Seek Arrest Warrants for 4 Aiding Woori Bank Employee in 70 Billion Won Embezzlement

Woori Bank [Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] The prosecution has requested arrest warrants for acquaintances who assisted a Woori Bank employee in embezzling approximately 70 billion won.

The Crime Proceeds Recovery Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lim Se-jin) announced on the 30th that it has filed pre-arrest warrants against four acquaintances who helped the Woori Bank employee embezzle funds, on charges including violation of the Act on Real Name Financial Transactions and the Act on the Regulation and Punishment of Criminal Proceeds Concealment.

Securities company employee A is accused of opening 11 securities accounts under false names for Woori Bank employee Jeon (currently on trial) and receiving about 100 million won of criminal proceeds (violations of the Act on Real Name Financial Transactions and the Act on the Prevention of Transfer of Criminal Proceeds). Two others, family members and acquaintances of Jeon, were charged with receiving criminal proceeds exceeding 1 billion won each. Another acquaintance was investigated for destroying the mobile phone of Jeon's younger brother to destroy evidence and receiving about 300 million won of criminal proceeds.

The pre-arrest detention hearings for these suspects will be held today at the Seoul Central District Court.

The Jeon brothers were indicted on charges of embezzling 61.4 billion won of company funds and were sentenced to 13 years and 10 years in prison respectively, along with fines exceeding 64.7 billion won, in the first trial on September 1. Jeon's younger brother and the prosecution have appealed, and the second trial is pending.

During the first trial of the Jeon brothers, the prosecution discovered an additional embezzlement amounting to 9.32 billion won and requested a change to the indictment, but when the court did not accept it, the prosecution appealed, arguing that the first trial verdict should be overturned and the trial restarted from the beginning.

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