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Industrial Bank of Korea (photo=IBK Industrial Bank of Korea) |
[Alpha Biz= Paul Lee] Prosecutors have filed arrest warrants for two IBK Industrial Bank employees involved in a suspected 800 billion KRW loan fraud case.
On April 24, 2025, the Seoul Central District Prosecutors' Office's Anti-Corruption Investigation Division filed arrest warrants for former employee A and current employee B. The Financial Supervisory Service previously reported that former and current employees, along with their spouses, acquaintances, and associated businesses, were linked to a fraudulent loan scheme totaling 882 billion KRW, leading to the referral of the case to prosecutors.
A is accused of operating real estate agencies and a legal office under fake names, collaborating with 28 employees, including his spouse, from the bank’s loan review center, to fraudulently obtain 785 billion KRW in loans between 2017 and 2024.
Prosecutors have also uncovered evidence that current employee B received money in exchange for facilitating loans for A, prompting the inclusion of B in the arrest warrant request.
The prosecution's investigation has accelerated, with searches of 20 companies related to loan officers and borrowers in Seoul and Incheon in March, as well as a search of the bank's headquarters on April 1.
The pre-arrest hearing for A and B is scheduled for April 28, 2025.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
