Police raid the Woori Bank headquarters in connection with the ‘61.4 billion embezzlement case’▶ Click here for a larger view
The police raided the Woori Bank headquarters where an employee embezzled 61.4 billion won.
Seoul Namdaemun Police Station sent investigators to the Woori Bank headquarters in Jung-gu, Seoul for 4 hours starting at 1:50 pm on the 2nd, and conducted a search and seizure. Employee A, who was arrested on charges of embezzlement, and the house of his brother (arrested) were also seized and searched.
The police secured internal accounting books and the PC used by Mr. A at the Woori Bank headquarters.
The police plan to analyze the data obtained from the search and seizure to find evidence to support the embezzlement, while tracing the financial accounts of Brother A to monitor the flow of funds. In addition, we plan to investigate whether there are accomplices other than the younger brother. A police official said, “We plan to look in all directions to see if there is anyone who conspired with Mr. A inside and outside the company.”
Person A is accused of embezzling 61,452,146 million won (provisional) on three occasions, including October 12, 2012, September 25, 2015, and June 11, 2018 (such as aggravated punishment for certain economic crimes, etc.) embezzlement under the Act).
Mr. A, who has been at Woori Bank for over 10 years, worked in the Corporate Improvement Department at the time of the embezzlement. Most of the embezzlement money was found to be a contract deposit that Woori Bank had to return to the Iranian home appliance company Entekhab, which had participated in the sale of the former Daewoo Electronics.
On the 27th of last month, when the bank recognized the embezzlement and sued the police, Mr. A surrendered himself to the police station and was arrested on the 30th of last month. A’s younger brother was also arrested the day before on charges of collusion.
Mr. A also remitted tens of thousands of won to Australia, where his family lives, twice on the 12th and 27th of last month, before his surrender. The bank, knowing this fact belatedly, requested the cancellation of the remittance, but it was found that the remittance had already been completed and could not be recovered because the depositor’s consent was required to prevent withdrawal.
It is known that Mr. A stated in the police investigation to the effect that “some invested in derivatives and some in his brother’s business, but it didn’t work out, so all the embezzlement money was blown away.”
It is said that he spent about 8 billion won in the New Zealand golf course resort development project that his younger brother was promoting, and suffered a loss.
Person A is known to have stolen money by disguising the corporation her brother is the representative of as one of the Korea Asset Management Corporation.
It is reported that Mr. A’s younger brother also admitted to the allegations during the police investigation, stating that “it is true that he started a New Zealand golf course resort business after receiving investment from his brother.”
The police plan to send Mr. A to the prosecution within this week.
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