[Breaking] Prosecution Indicts Woori Bank Employee and Brother for Embezzlement of 61.4 Billion Won

[Asia Economy Reporter Choi Seok-jin, Legal Affairs Specialist] The Criminal Division 7 of the Seoul Central District Prosecutors' Office (Chief Prosecutor Lee Man-heum) on the 24th indicted Woori Bank employee Mr. A and Mr. A's younger brother Mr. B, who participated in the crime, on charges of embezzling 61.4 billion KRW of bank funds (embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes) and other charges.

During supplementary investigations, the prosecution confirmed that Mr. A and Mr. B had fled part of the embezzled funds through a paper company established overseas, and applied charges of property flight abroad under the Act on the Aggravated Punishment of Specific Crimes against both individuals.

Additionally, Mr. C, who received about 1.6 billion KRW from the embezzled funds from Mr. A under the pretext of providing investment information, was also indicted and detained on charges of violating the Act on the Regulation of Concealment of Criminal Proceeds.