embezzlement Archives | Be Korea-savvy
Growing Number of Embezzlement Cases Related to Crypto Investment

Growing Number of Embezzlement Cases Related to Crypto Investment

SEOUL, June 3 (Korea Bizwire) — Amid a recent series of large-scale embezzlement cases by employees of banks and other financial companies, cases of employees exploiting company funds to invest in cryptocurrencies have continued to pop up over the past couple of years. An unidentified person, an accountant at a fashion manufacturer, was charged with [...]

Over 100 bln Won Embezzled by Financial Firms’ Officials Over Past 5 Years: Data

Over 100 bln Won Embezzled by Financial Firms’ Officials Over Past 5 Years: Data

SEOUL, May 29 (Korea Bizwire) — More than 170 employees from banks and other financial firms have embezzled more than a combined 100 billion won (US$79.62 million) over the past five years, but about a mere 11 percent has been retrieved, data showed Sunday. Calls have grown recently for financial firms and authorities to strengthen [...]

Arrest Warrant Issued for Woori Bank Employee Suspected of Embezzling 60 bln Won

Arrest Warrant Issued for Woori Bank Employee Suspected of Embezzling 60 bln Won

SEOUL, April 30 (Korea Bizwire) — An arrest warrant was issued Saturday for an employee of Woori Bank, one of South Korea’s largest commercial banks, suspected of embezzling more than 60 billion won (US$47 million). The Seoul Central District Court issued the warrant for the employee, whose identity was withheld, ruling that the suspect posed [...]