Large Woori Bank employee who embezzled ‘61.4 billion won’ invests in high-risk derivatives (comprehensive)

While the police are urgently arresting and investigating an employee suspected of embezzling 60 billion won from Woori Bank for six years, it is additionally reported that the employee stated that he had invested part of the embezzlement money in derivatives.

According to the Namdaemun Police Station in Seoul on the 28th, at around 10:30 pm the previous day, Woori Bank employee A came to the police station and surrendered himself, and was immediately arrested on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.

Person A is accused of embezzling 61.452.14 million won (provisional) of company funds three times: on October 12, 2012, on September 25, 2015, and on June 11, 2018.

The personal account used for the embezzlement was reportedly terminated shortly after the last withdrawal in 2018.

Mr. A, a deputy general manager who had been at Woori Bank for more than 10 years, was identified as working in the corporate improvement department at the time of the embezzlement, and it is said that the possibility of an upper-level company intervening is low.

It is known that Mr. A generally admitted the charges in the police investigation, and stated in the police investigation that he invested part of the embezzlement money in derivatives.

The specific amount of embezzlement may vary depending on the circumstances of the investigation, and the possibility of recovering the entire amount of damage is expected to be low.

Most of the embezzlement money was found to be a contract deposit that Woori Bank had to return to the Iranian home appliance company Entekhab, which had participated in the sale of the former Daewoo Electronics.

At the time, when the contract failed, the creditors did not return it and confiscated it, but the Iranian Dayani family, who owns Entekhab, filed an investor-state lawsuit (ISD) and won.

At that time, Woori Bank, which was the lead bank for the sale, had been managing the down payment separately, but it is known that the bank was belatedly aware that the money had disappeared.

Woori Bank is known to have confirmed the fact that an employee embezzled tens of billions of won through an internal audit the day before and requested the police to investigate.

The Financial Supervisory Service received a report on the accident from Woori Bank the day before, and started a regular inspection of the Woori Bank headquarters in Jung-gu, Seoul on the same day considering the urgency and seriousness of the matter.

The police received a complaint from Woori Bank, who recognized the crime late the afternoon of the previous day, and started an investigation, and it was found that the police were in the process of taking measures such as bans from leaving the country.

The police are also planning to conduct an investigation with the possibility that the younger brother may also have participated in the crime, considering that Mr.

The police plan to apply for an arrest warrant on the 29th after investigating the exact circumstances of the incident.