Public Official from Gangdong-gu Office Arrested and Indicted for Embezzlement of 11.5 Billion Won

Published 21 Feb.2022 14:36(KST)

Prosecution "Striving to Recover Remaining Criminal Proceeds"

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Kim Mo (47), a public official at Gangdong-gu Office in Seoul, accused of embezzling 11.5 billion KRW of public funds, has been brought to trial.

On the 21st, the Corporate and Labor Crime Division of the Seoul Eastern District Prosecutors' Office (Chief Prosecutor Choi Hyung-won) indicted Kim on charges including embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes, forgery of official documents, use of forged official documents, and forgery of electronic records.

Kim is accused of embezzling 11.5 billion KRW from the Seoul Housing and Communities Corporation (SH)'s waste treatment facility installation fund a total of 236 times while working at the Gangdong-gu Office's Investment Attraction Division and other departments from December 2019 to February last year.

Of the embezzled funds, 3.8 billion KRW was deposited back into the district office's account, but it is known that most of the remaining 7.7 billion KRW was lost through stock investments.

The prosecution stated, "To recover the unrecovered criminal proceeds of 7.7 billion KRW, we have taken pre-indictment seizure measures on defendant-owned property worth approximately 800 million KRW," and added, "We will continue efforts to recover the remaining criminal proceeds."