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View of Woori Bank (photo = Woori Bank) |
[Alpha Biz= Paul Lee] A former Woori Bank employee and his brother, already serving time for embezzling more than 70 billion KRW, will serve an additional 3 to 4 years in prison.
On the 10th, the Supreme Court’s Second Division upheld the lower court’s ruling, sentencing Mr. Jeon, the former Woori Bank employee, to 4 years in prison and his brother to 3 years for charges including violations of the Act on Regulation and Punishment of Criminal Proceeds Concealment.
The two were indicted for concealing the embezzled funds by establishing shell companies and opening accounts under borrowed names, during the process of embezzling 70.7 billion KRW from Woori Bank between 2012 and 2020. The court has finalized the sentence.
Previously, the two were convicted under the Act on the Aggravated Punishment of Specific Economic Crimes and were sentenced to 15 and 12 years in prison, respectively, by the Supreme Court in April last year. With the latest ruling, their total prison terms have now been extended.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
