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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Sangjin] A former employee of Woori Bank, J, and his brother, who were convicted of embezzling over 700 billion won from the bank, have been sentenced to additional prison terms for money laundering and concealing criminal proceeds. The Seoul Central District Court recently upheld the lower court's decision, sentencing J to four years and his brother to three years in prison for violations of the Act on Concealment of Criminal Proceeds.
The two brothers had already been sentenced by the Supreme Court in April to 15 years and 12 years in prison, respectively, for embezzling 707 billion won from the bank between March 2012 and June 2018. They were also ordered to return 673 billion won in illegal proceeds.
While the brothers argued that their sentence was final and should not be revisited, the court disagreed, emphasizing that the new charges related to money laundering and document forgery constituted additional crimes.
Moreover, Woori Bank filed a civil lawsuit against the brothers, demanding compensation for the embezzled funds. The court ruled in favor of the bank, ordering the brothers to pay 656.65 billion won in damages.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
