700 Million Embezzlement, Prime Minister's Office Affiliated Agency Fund Management Employee Sentenced to Prison

Sentenced to 2 Years and 6 Months in Prison, 4 Years Probation
Court: "Culpability is Serious, but Significant Portion of Damages Recovered"

A man in his 40s who managed funds invested by employees affiliated with an agency under the Prime Minister's Office and operated a low-interest loan business, but used approximately 700 million KRW for personal purposes, was sentenced to a suspended prison term.

According to Yonhap News on the 17th, the 12th Criminal Division of the Daejeon District Court (Chief Judge Kim Byung-man) sentenced Mr. A, who was indicted on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes, to 2 years and 6 months in prison. However, the execution of the sentence was suspended for 4 years, and he was ordered to perform 80 hours of community service.

Daejeon Court. Yonhap News

It is known that since June 2017, Mr. A served as the secretary of an organization operating a low-interest loan business within the agency, managing funds invested by employees affiliated with an agency under the Prime Minister's Office.

He is accused of transferring 38.8 million KRW to his own account in March 2018 while safeguarding funds invested by employees in Sejong City, using the money for personal purposes such as credit card payments.

The crime was committed 39 times over approximately five years until June 22, 2023. Mr. A is charged with embezzling a total of 689.9 million KRW in 39 instances. According to investigative authorities, he reportedly used a significant portion of the amount for personal purposes, including paying off credit card bills.

The court stated the sentencing reasons, saying, "Considering that the embezzlement crime was committed over a long period and the amount of damage is large, the culpability is very serious. However, since this is a first offense, he shows remorse, a substantial portion of the damage has been recovered, the remaining part is expected to be recovered, and he has amicably settled with the victim."