'1.9 Billion Won Embezzlement' Clio Employee Scheduled for Prosecution Transfer on the 18th

On the 13th, Mr. A Arrested on Embezzlement Charges
Recovery Difficult Due to Gambling Losses

[Asia Economy Reporter Jang Sehee] The police are set to soon hand over a Clio cosmetics company employee who embezzled approximately 1.9 billion KRW of company funds and squandered it on gambling to the prosecution.

On the 16th, the Seongdong Police Station in Seoul announced that after completing additional investigations on Clio employee Mr. A, they plan to transfer the case to the prosecution on the 18th. The police had arrested Mr. A on the 13th on charges of embezzlement in violation of the Act on the Aggravated Punishment of Specific Economic Crimes.

Mr. A, a sales employee, is accused of embezzling about 1.89 billion KRW by siphoning off part of the proceeds received from a home shopping cosmetics sales company between early last year and early this year. It is reported that most of the embezzled amount was lost to gambling, making recovery difficult. In February of this year, the police began an investigation after receiving a complaint from the company, and at the end of last month, they conducted a suspect interrogation of Mr. A.

Meanwhile, upon the occurrence of the embezzlement incident, Clio disclosed through a public announcement that "an embezzlement incident involving one sales employee occurred," and stated that "the company conducted a personnel committee investigation on the employee and took dismissal action."