'Ostem Finance Team Leader Sentenced to 35 Years for Embezzlement of 221.5 Billion Won (Update)'

Lee Mo, who is accused of embezzling 221.5 billion won of company funds from Osstem Implant, is being transferred from the Seoul Gangseo Police Station to the prosecution. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Hwang Seoyul] Lee Mo (46), who worked as the head of the finance team at Osstem Implant and was charged with embezzling over 200 billion won of company funds, was sentenced to 35 years in prison in the first trial.

The Seoul Southern District Court Criminal Division 14 (Chief Judge Kim Donghyun) sentenced Lee on the 11th for embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes and ordered him to pay a fine of 115,187,975,550 won. Previously, the prosecution had requested a life sentence for Lee in December last year and asked the court to order the confiscation of 114.8 billion won.

On the same day, the court also found Lee's wife, Park Mo, guilty of violating the Act on the Regulation of Concealment of Criminal Proceeds and sentenced her to 3 years in prison. Lee's sister-in-law and younger sister, who were also charged with the same offense, were each sentenced to 2 years in prison with a 3-year probation. The prosecution had sought a 5-year prison term for Park and 3 years for the sister-in-law and younger sister.

Earlier, Lee was arrested and indicted in January last year on charges of transferring 221.5 billion won in 15 installments from the company account containing Osstem Implant funds to his own securities account from November 2020 to October of the following year and using it for stock investments and other purposes while serving as the head of the finance team at Osstem Implant.

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