Stuffing Bundles of Cash into Socks and Coats... Bank Employee Steals 400 Million Won for Gambling
A bank employee in his 40s who stole approximately 400 million won from a bank by hiding the money in socks and coats and then used it for gambling has ultimately ended up behind bars.
On August 15, Judge Song Jonghwan, presiding judge of the Chuncheon District Court Criminal Division 1, announced that he had sentenced Mr. A (45), who was indicted on charges of occupational embezzlement, to eight months in prison.
Mr. A, who worked at a bank in Hongcheon, was brought to trial on charges of stealing a total of 212 million won in cash over six separate occasions in December last year, by placing bundles of 50,000-won bills in his socks and taking them out of the bank vault.
He also embezzled 150 million won in bank funds that he kept at his office desk, as well as 20,000 US dollars (worth approximately 30 million won), by putting the money in paper bags and coat pockets, bringing the total amount embezzled to 391.33 million won. According to the investigation, Mr. A used the stolen money for online gambling and other purposes.
Judge Song pointed out, "The total amount embezzled by the defendant in a short period reached approximately 400 million won, and of the 180 million won in compensation determined by the bank, the defendant has only repaid 5 million won, leaving the remainder as a loss to the bank. This is an unfavorable factor for the defendant."
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He continued, "However, the defendant has no prior criminal record exceeding a fine, a significant portion of the approximately 400 million won embezzled has been recovered, the defendant appears to have strong social ties as several acquaintances have petitioned for leniency, and there is evidence that the defendant is making efforts to overcome the gambling addiction that was a major cause of the crime. Taking all these factors into account, the sentence was determined."
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