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With the stock trading of KOSPI listed company Kyeyang Electric Co., Ltd. is suspended due to embezzlement of a large amount, it will be decided soon whether or not the employee who stole company money will be arrested.
Police are focusing their investigations on the flow of embezzled funds.
This is reporter Ha Jeong-yeon.
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Mo Kim, an employee of Gyeyang Electric's finance team, has been asked for an arrest warrant for embezzling 24.5 billion won of company money.
Kim, who appeared in court to receive a warrant review, admitted to the crime and said there were no accomplices.
[Mr. Kim: (Do you admit the crime?) Yes.
(Is there any more money you embezzled?) I'm sorry.]
It is known that during the warrant review process, Kim admitted to the charge of extorting company money by manipulating books and financial statements.
[Gyeyang Electrician official: Now he has to adjust the balance of what he stole, so he just paid the purchase price that he didn't pay.
] It is expected to come out.
Police are accelerating the money flow tracking to see where the stolen money was used.
Yesterday, the court issued a search and seizure warrant for the account, and we are analyzing the 6-year value of the relevant account.
This is to confirm that Mr. Kim's statement that he spent most of the embezzlement money on stocks, bitcoins, gambling and entertainment is correct and that there is no further embezzlement.
Considering that Gyeyang Electric has filed a complaint based on Mr. Kim's statement, there is a possibility that the amount of embezzlement may increase during the investigation process.
The police are also known to be investigating how Kim has been robbing a small amount of company money since 2016, and the amount of embezzlement suddenly increased last year.
(Video coverage: Seol Min-hwan, video editing: Yoon Tae-ho)