LG Uplus Employee Embezzling Billions of Company Funds and Fleeing Abroad... Arrested and Indicted

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[Asia Economy Reporter Oh Gyumin] An LG Uplus employee who embezzled billions of won of company funds and fled overseas has been arrested and indicted.

On the 29th, the Seoul Western District Prosecutors' Office announced that it had arrested and indicted A, a team leader-level employee of LG Uplus, on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (fraud) the previous day.

A was an employee in charge of multi-line sales such as Internet Protocol TV (IPTV) and is accused of colluding with agencies to create false contracts and embezzling commissions paid by the company to the agencies.

LG Uplus confirmed that A embezzled company funds and filed a complaint with the police on March 24 after an internal investigation. However, A had already left for the Philippines, and the police notified immigration authorities upon his return.

A is known to have voluntarily returned due to financial difficulties. Accordingly, the police were notified by the airport of A's arrival earlier this month and arrested him at the airport.

The amount of damage was reported to be 8 billion won at the time of the incident but was found to be less than that.

The prosecution stated, "The damage amount has been confirmed to be 6.87 billion won."

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