A sister-in-law who managed finances at her brother-in-law’s company and embezzled over 700 million won from the corporate account has been sentenced to prison.
On the 15th, the Bucheon branch of the Incheon District Court, under presiding judge Yeoh Hyun-joo, announced that they sentenced A, a former accounting staff member of a manufacturing company in Gimpo, to five years in prison for charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.
A was indicted for siphoning off a total of over 730 million won from the company, where her brother-in-law, B, was the CEO, by making 553 transactions from the corporate accounts between January 2014 and December 2020.
She joined the firm at the end of 2013, taking on financial management responsibilities, and it was found that she used a certified digital signature and a one-time password (OTP) linked to the corporate accounts to embezzle the funds.
While transferring company funds to her personal and family accounts, A wrote memos pretending they were payments to business partners and did not submit any separate expenditure reports.
It’s revealed that she used the embezzled funds for her children’s English education, spending 1.5 to 2 million won per month, as well as for family insurance premiums, taxes, and shopping.
B discovered A’s crime at the end of 2021 when he received a request from the Gimpo Tax Office to submit an explanation for allegedly omitting income and found the discrepancies.
B had already provided financial assistance to A on top of her 4.5 million won monthly salary and even waited three months after discovering her actions to give her a chance to explain.
During the trial, A defended herself by claiming, “Didn’t my brother-in-law also misuse company funds?” and did not return the embezzled money.
The court stated, “B and his wife, who trusted the defendant, likely suffered not only economic losses but also significant mental shock due to this crime,” adding, “Before clarifying her actions, the defendant, accompanied by an attorney, attempted to threaten B and his wife or isolate them from their family.”
Additionally, the court mentioned, “The defendant consistently made unreasonable excuses during the trial and shifted the blame. Given the unacceptable behavior following her crime, there is a necessity for severe punishment commensurate with the charge.”