[Breaking] Supreme Court Confirms 15 and 12 Years Prison Sentences for Woori Bank Employee Brothers in 70 Billion Won Embezzlement Case

The Supreme Court's 3rd Division (Presiding Justice Oh Seok-jun) on the 12th dismissed the appeals of both the prosecution and the Jeon brothers in the final appeal trial of Jeon Mo, a former Woori Bank employee, and his brother, who were indicted for violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement). The court upheld the original sentence, sentencing the two to 15 years and 12 years in prison respectively, and ordered the confiscation of approximately 33.2 billion KRW.

Jeon was prosecuted on charges of embezzling a total of 70.7 billion KRW of bank funds from March 2012 to June 2020 while working at Woori Bank, using the money for stock index option trading and other purposes. Additionally, Jeon is accused of forging documents to justify the withdrawal of the embezzled funds and conspiring with his brother to divert part of the embezzled money to overseas paper company accounts.