Man in His 40s Embezzles Hundreds of Millions Over 7 Years, Starting Just Two Weeks After Joining Company

A man in his 40s who began embezzling company funds just two weeks after joining the company and siphoned off hundreds of millions of won over approximately seven years has received a reduced sentence on appeal.

Embezzlement. Getty Images

On January 18, the Criminal Division 1 of the Chuncheon District Court (Presiding Judge Sim Hyungeun) overturned the original sentence of one year in prison for A (age 49), who was indicted on charges of occupational embezzlement, and instead sentenced him to eight months in prison.

A, who joined a company in Wonju at the end of October 2015 as an accounting manager responsible for managing operating funds, was brought to trial on charges of embezzling over 250 million won from company funds on 251 occasions over about seven years, starting from early November 2015, just two weeks after joining the company.

According to the investigation, A transferred 500,000 won from the company’s account to his own account, then sent half of that amount to a business partner and used the remaining balance for personal expenses such as living costs.

A, together with his colleague B, a department head responsible for road construction work such as preparing design specifications, also embezzled over 40 million won on 22 occasions over approximately two years starting in August 2020.

The Wonju Branch of the Chuncheon District Court, which handled the first trial, stated, "The defendant began committing the crime shortly after joining the victim company and embezzled nearly 300 million won over about seven years, which is a serious offense," and handed down a prison sentence.

The appellate court, which re-examined A’s claim that "the sentence is too severe and unfair," took into account several factors: A partially compensated the victim company with cash or in-kind payments during the first trial, deposited an additional 25 million won during the appeal, and had no prior criminal record. As a result, the sentence was reduced.

Meanwhile, B, who was tried alongside A, was sentenced to a fine of 4 million won in the first trial. Since neither B nor the prosecution appealed, the sentence has been finalized.