‘Ostem Implant Embezzlement’ Finance Team Leader Admits Charges in Trial

Lee charged and detained for embezzling approximately 221.5 billion KRW

[Asia Economy Reporter Oh Gyumin] The head of the finance team at Osstem Implant, accused of embezzling 221.5 billion won of company funds, admitted all charges in court.

The Criminal Division 14 of the Seoul Southern District Court (Presiding Judge Kim Donghyun) held the second trial session on the 6th at 10:50 a.m. for Lee (45), who was indicted on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.

At the trial, Lee's defense attorney stated, "We admit all the facts alleged by the prosecution."

However, the defense added, "Lee was referred to the prosecution for violating the Act on the Regulation and Punishment of Criminal Proceeds Concealment, and if indicted, he wishes to have the trial combined with this case. Since there is a concern that agreeing to evidence in the embezzlement case and later disagreeing could lead to prejudice by the court, we hope to handle the evidence admission and related procedures all at once after any additional indictment."

According to the prosecution, Lee, as the head of Osstem Implant's financial management team, is accused of transferring funds a total of 15 times from company accounts under the company's name to securities accounts under his own name from November 2020 to October last year, using approximately 221.5 billion won of company assets for personal stock investments. He was arrested and indicted on these charges.

Lee's family members, who submitted a third-party participation application to the court, also attended the trial. A third party refers to someone other than the defendant who holds property that may be subject to confiscation. When asked about the court's stance on the confiscation of criminal proceeds, they replied, "We have not yet finalized discussions with our lawyer on this matter, so we will provide further comments once concluded."

The next trial is scheduled for May 12 at 2 p.m.