Main Perpetrator, Family, and Subordinate Employees in '221.5 Billion OSTEM Embezzlement' to Face Combined Trial... Consolidated Hearing

Court Decides on the 24th to Consolidate and Hear Cases

Lee Family Faces Charges of Concealing Criminal Proceeds
Two Finance Team Employees Charged with Aiding Embezzlement

First Trial After Consolidation Scheduled for Next Month 27th

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] Lee Mo (44), the finance team leader of Osstem Implant who was arrested and indicted on charges of embezzling 221.5 billion won of company funds, will also face trial for concealing criminal proceeds.

The Criminal Division 14 of the Seoul Southern District Court (Chief Judge Kim Dong-hyun) changed Lee's fifth trial date, originally scheduled for the 29th on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes, to the 20th of next month. On the 24th, the court decided to consolidate the two cases for trial in connection with the prosecution's additional indictment of Lee on charges of concealing criminal proceeds.

Earlier, the Seoul Southern District Prosecutors' Office reported on the 22nd that Lee's wife, younger sister, and sister-in-law actively conspired with Lee to hide the criminal proceeds, and indicted them together on charges of concealing criminal proceeds.

Additionally, two employees who worked together in the finance team were judged to have abetted Lee's actions knowing they were criminal and were brought to trial on charges of aiding embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.

Lee is accused of embezzling 221.5 billion won by transferring funds eight times from the corporate account to his own account starting from March last year. Part of the embezzled money was invested in stocks, resulting in a loss of about 76.1 billion won.

With the court's decision to consolidate the trials, the prosecution is expected to request another arrest warrant for Lee on charges of concealing criminal proceeds. Lee's detention period was originally set to expire on July 27, after which he would have to face trial without detention, but he had shown the possibility of fleeing and destroying evidence before being apprehended.

The court also stated during the trial process, "As Lee's detention expiration date approaches on July 27, the investigation can no longer be delayed," and "We will conduct evidence examination excluding disputed parts," indicating that the court judged it could not postpone the decision on the charges against Lee.