According to a report by South Korean media outlet “news1,” an employee of Yuri Bank in South Korea has been arrested and sent to court for allegedly forging loan documents and embezzling company funds totaling 18 billion Korean won. It was previously believed that the embezzled amount was 10 billion Korean won, but during the investigation process, it was confirmed to be 18 billion Korean won.
According to the report, the employee, from July last year to May this year, took advantage of their position to forge loan documents for 17 individual and corporate clients, making a total of 35 fraudulent loan applications. They then embezzled approximately 1.777 billion Korean won (approximately 12.83 million US dollars) by transferring the loan funds to acquaintances’ accounts.
In addition, the defendant is also accused of deceiving two individual loan clients from July to September last year, claiming that they needed to temporarily withdraw the deposited loan amount to complete the remaining loan procedures. Through this method, approximately 220 million Korean won was transferred to an acquaintance’s account.
Prosecutors pointed out that the defendant planned this series of criminal acts to raise funds for virtual asset investments. After tracking the accounts, prosecutors and the police discovered that the defendant used approximately 15 billion Korean won to purchase virtual assets, approximately 2.7 billion Korean won to repay the loan debts generated by this criminal act through a “borrow new to repay old” method, and the remaining approximately 300 million Korean won for personal expenses such as rent deposits and living expenses.
Prosecutors have seized 180 million Korean won from Mr. A’s residence, and through freezing and recovery measures, they have frozen assets worth a total of approximately 4.5 billion Korean won, including virtual asset exchange deposits, bank deposits, and rent deposits.
