Seoul Southern District Prosecutors' Office Extended Until the 2nd of Next Month
Lee Mo, who is accused of embezzling 221.5 billion KRW from Osstem Implant, is being transferred to the prosecution from Gangseo Police Station in Seoul on the 14th. Photo by Kang Jin-hyung aymsdream@
[Asia Economy Reporter Yoo Byung-don] The detention period of Lee Mo (45), a financial management employee at Osstem Implant who embezzled 221.5 billion won of company funds for personal stock investments, has been extended.
The Seoul Southern District Prosecutors' Office Financial and Securities Crime Investigation Cooperation Team (Head Park Seong-hoon) announced on the 24th that Lee, who is accused of violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement in the course of duty) and concealment of criminal proceeds, had his detention period extended until the 2nd of next month.
Under the Criminal Procedure Act, the detention period during the prosecution investigation phase is 10 days, and with court approval, it can be extended once more (up to 10 days). Earlier, on the 14th, the Seoul Gangseo Police Station transferred Lee to the Seoul Southern District Prosecutors' Office in custody.
Lee's side previously claimed that higher-ups in the company ordered the crime and that half of the gold bars purchased with the embezzled money were handed over, but before the transfer, he reversed his statement and claimed it was a solo crime.
During the police investigation, it was found that Lee purchased 851 gold bars weighing 1 kg each, worth 68.1 billion won, hid them at residences of his father and other family members, and bought real estate under the names of his wife and sister-in-law.
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