A Kyongnam Bank employee was on trial on Friday, on charges of embezzling 138-point-7 billion won, or 104-point-05 million U.S. dollars in company funds over a period of seven years.

The trial comes as the Seoul Central District Prosecutors’ Office arrested and indicted the 51-year-old defendant, surnamed Lee.
Lee had worked as the head of the investment and finance department at Kyongnam Bank.

Investigation revealed that he transferred 69.9 billion won to his family or a shell company on 11 occasions from August 2016 to October 2021.
More than 100 gold bars, each weighing 1 kilogram, were found in the former employee’s home.

He was found to have used some of the stolen funds to invest in futures and stocks.

The prosecution has only secured a total of 17-point-3 billion won, or 12-point-9 million U.S. dollars worth of crime damage assets.