Two employees of the Korea Water Resources Corporation are being investigated by the police on charges of stealing 8.5 billion won from the company for years.

Busan Gangseo Police Station announced yesterday (21st) that they are investigating Employee A and former employee B of the Busan Elco Delta City Project Team of the Water Resources Corporation, which is in charge of the 'Busan Real Estate Development Project' on charges of business embezzlement.

A and B are charged with stealing and intercepting the project cost by 'double charging' the business site acquisition tax to the Korea Water Resources Corporation headquarters several times while in charge of accounting for this project from 2014 to last year.

They are known to have taken advantage of the loophole in the process of paying acquisition tax to register the transfer of ownership after purchasing the land and compensation.

The embezzlement amount of both of them is estimated to be close to 8.5 billion won.

It is known that the Korea Water Resources Corporation has been paying the acquisition tax in cash.

Although it is a relatively simple method, it has not been discovered for 7 years, and the situation was revealed through an internal audit earlier this month.

The Water Resources Corporation filed a complaint with the police on the 5th, saying that Mr. A and others planned to embezzle public funds for a long period of time and said it was a personal deviance and a crime that caused damage to the company.

In addition, a construction official said, "With this incident as an opportunity, we plan to design the internal control function more precisely.

The Eco Delta City (EDC) project is a project to build 30,000 houses, including apartments, on an 11,170 km² site in Gangseo-gu, Busan by 2023 with a total project cost of 6.6 trillion won. It is a business executor.

This is a 'news pick'.

(Photo = Yonhap News)      

Keywords: employees, korea water resources corporation, employee a, charges, police, busan elco delta city project team, embezzlement, company, pick, water resources corporation, employee b, busan gangseo police station, real estate development manager, a, crime