Former CEO Who Embezzled W6.6 Billion Gets Suspended Sentence in Appeal

A former CEO of a home appliance company, who embezzled approximately 6.6 billion won in company funds for a fictional shaman under the psychological control of an acquaintance, has had their prison sentence reduced to probation in the appellate court.

According to legal circles on October 4, the Seoul High Court' overturned the lower court's sentence of three years in prison for A, a former CEO of a home appliance company indicted for embezzlement under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes, and sentenced A to three years in prison suspended for four years.

The court explained that it took into account factors such as the fact that A was thoroughly and psychologically controlled by an acquaintance's couple for eight years.

The court stated that after realizing they had been subjected to so-called gaslighting, A repeatedly wrote statements of remorse acknowledging the crime.

It added that A compensated for the damages by substituting shares of the victim company held by A as payment in kind, and that the victim company expressed its desire not to have A punished.

A was charged with embezzling 6.587 billion won in company funds after receiving instructions from a shaman named Cho Mal-rye, introduced by the acquaintance couple of A's ex-wife, claiming that money was needed to be offered at an altar.

The shaman in question was a fictional figure created by the acquaintance couple, who deceived A by communicating via text messages as if they were actual shamans.

The acquaintance couple was indicted and detained on charges including fraud and extortion under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes, and each was sentenced to eight years in prison in the first trial last July.
※ Please note: This article was translated by AI and may contain errors.