Former Woori Bank employee who embe... > 경제기사 | economics

Photo = Woori Bank

[Alpha Biz= Reporter Paul Lee] A heavy sentence has been confirmed for a former Woori Bank employee accused of embezzlement of 70.7 billion won and his brother, an accomplice.

The Supreme Court Division 3 Chief Justice Oh Seok-joon on the 12th upheld the original ruling that sentenced former Woori Bank employee Jeon 45 to 15 years in prison and his younger brother 43 to 12 years in prison on charges of embezzlement and other charges under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes. Another accomplice, identified only by his surname Seo, was sentenced to one and a half years in prison and suspended for three years.


The Supreme Court said, "The original ruling did not have any fault in affecting the ruling by misunderstanding embezzlement charges under the Specific Economic Crime-weighted Punishment Act and the law on collection under the Corruption Property Expropriation Act."

The Supreme Court acknowledged all KRW 72.4 billion in additional collection sentenced by the original court. It is 33.2 billion won for Jeon brothers, 1.4 billion won for Seo, and 4.6 billion won from participants such as Jeons family.

However, among the fines to be paid by the Jeon brothers, 5 billion won in property stolen overseas is a joint burden, so if the payment is made in full, the total amount to be collected is expected to reach 67.4 billion won.

Jeon was indicted on charges of siphoning off a total of 70.7 billion won in bank funds for eight years from March 2012 to June 2020 while working at Woori Bank and using them for trading stock index options.

In the process, he is also accused of forging documents to provide grounds for withdrawing money and colluding with his younger brother to divert some of the embezzlement to overseas paper company accounts.

The accomplice Seo was accused of providing investment information to the Jeon brothers money even though he knew it was a crime and receiving about 1.6 billion won in return.

The embezzlement amount was known to be 61.4 billion won at the time of the indictment of the Jeon brothers, but was later additionally indicted on charges of embezzlement worth 9.32 billion won as additional crimes were revealed.

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