'Embezzlement for the 3rd Time' 50s Accountant Diverted 1 Billion Won of Company Funds Over 9 Years

Falsely Recording Bankbook Details and Transferring to Own Account
Court States, "Large Embezzlement Amount and Meticulous Method"

A 50-year-old accounting employee who had previously committed embezzlement twice and received light punishments was sentenced to five years in prison for embezzling 1 billion KRW in company funds again. On the 9th, the Criminal Division 2-1 of Suwon High Court (Presiding Judges Wang Jeong-ok, Kim Gwang-yong, Lee Sang-ho) announced that it upheld the first-instance sentence of five years in prison for Mr. A (59), who was convicted of violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (embezzlement).

Mr. A was prosecuted on charges of embezzling more than 977 million won of company funds while working as an accounting staff member at a company in Siheung from June 1, 2013, to July 28, 2022.
[Photo by Asia Economy]

Mr. A was prosecuted on charges of embezzling more than 977 million KRW in company funds while working as an accounting employee at a company in Siheung from June 1, 2013, to July 28, 2022. Responsible for managing and executing funds such as payments to business partners, Mr. A used a method of falsifying withdrawal account statements to make it appear as if payments were made for goods from business partners, transferring company money to his own accounts 309 times and using it for living expenses and other purposes.

Despite having a prior suspended sentence for embezzlement in 2009 and a fine for the same crime in 2010, he committed the crime again. The first-instance court sentenced him to five years in prison, stating, "The crime period was long, the amount embezzled was large, and the method was meticulous and planned, indicating a serious offense." Both Mr. A and the prosecution appealed, claiming the sentence was unfair, but the appellate court rejected their appeals. The appellate court also ruled, "There are no changes in sentencing conditions warranting a change in the sentence, and considering various circumstances argued by both sides, it is difficult to see the sentence as too harsh or too lenient."