Mr. Lee, who embezzled 221.5 billion won from the Osstem Implant company, has been sent to the prosecution.
The Gangseo Police Station in Seoul applied charges such as violating the Act on Aggravated Punishment for Specific Economic Crimes (business embezzlement) and hiding criminal proceeds and sent it to the Seoul Southern District Prosecutors' Office.
Police said that during the investigation, Lee admitted to the charges, saying, "It was a crime committed solely to obtain money personally."
Previously, Mr. Lee's side claimed that his superiors ordered the crime and handed over half of the bullion he had bought as embezzlement.
However, before being sent to the prosecution, the statement was reversed.
Mr. Lee is accused of stealing 221.5 billion won from the company while working as an Osstem Implant financial management employee and using it for personal stock investment.
When he saw a loss in his stock investment, Lee started to steal money and bought 851 1kg gold bars worth 68 billion won and hid them in his father's and other family's residences.
He also bought real estate worth 7.5 billion won in the name of his wife and sister-in-law.
The police raided the headquarters of Osstem Implant on the 12th to secure financial data, and are investigating whether the in-house executives and employees have directed or intervened in the crime.
(Photo = Yonhap News)