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[Alpha Biz=(Chicago) Reporter Kim Jisun] The total amount of damage rose to around 300 billion won after an employee of BNK Kyongnam Bank, who is on trial for embezzling more than 100 billion won in company money, was found to have embezzled an additional 160 billion won.
According to legal circles on the 22nd, the Seoul Central District Prosecutors' Office's Criminal Revenue Recovery Department (chief prosecutor Lee Hee-chan) filed an application with the court on the same day to permit the change of the indictment to increase the total amount of embezzlement from 143.7 billion won to 308.9 billion won.
Earlier in September this year, prosecutors arrested and indicted A, a former head of the investment finance department at Kyongnam Bank, and B, a former employee of Korea Investment & Securities, his accomplice and high school alumni, who were accused of violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes.
At the time of the indictment, A's embezzlement amounted to 143.7 billion won, of which 138.7 billion won was embezzled by B. After the indictment, the prosecution confirmed an additional 165.2 billion won and 89.9 billion won in embezzlement, respectively.
According to the prosecution's investigation, A conspired to invest in stock and futures trading with B when he managed Kyongnam Bank's real estate PF (Project Financing) loan funds.
They are accused of forging and exercising withdrawal slips 20 times from November 2014 to July last year. Kyongnam Bank is suspected of sending 228.6 billion won in funds related to real estate PF loans to paper companies and other accounts and then arbitrarily using them.
According to the prosecution, A siphoned off 80.3 billion won in the same way from July 2008 to September 2018. Of the 308.9 billion won embezzled, A and his family spent 271.1 billion won to "block the loan" by paying back the principal and interest of the previously embezzled PF loan funds.
For the remaining 14 years, a total of 37.8 billion won, 70 million won per month, was spent for personal use. They spent 8.3 billion won on real estate, 11.7 billion won on living expenses and credit card spending, and 15.6 billion won on purchasing hidden assets such as gold bars.
Meanwhile, A's wife was indicted without detention on charges of withdrawing her husband's embezzlement of 400 million won in cash, exchanging it into checks and hiding it in a kimchi refrigerator kimchi container in her residence (violation of the Criminal Profit Concealment Act).
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
