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Cosmetics company Amorepacific[090430]of the company’s employees embezzled billions of company money and invested in stocks and virtual currencies, it was found.
Amorepacific announced on the 17th that it had fired three of its employees following discovering that they had embezzled 3.5 billion won from the company.
They are known to have invested in stocks and virtual currencies by stealing funds by supplying products to customers and stealing the money they received.
Amorepacific said, “We confirmed the fact of corruption through regular internal audits, and reported the results of disciplinary measures and measures to prevent recurrence to the Audit Committee under the BOD and transparently notified them inside the company.”
“Most of the embezzlement was quickly recovered, and we plan to file a complaint once morest them with the police tomorrow,” he explained.
Amorepacific also added, “To prevent similar cases from reoccurring in the future, we plan to improve systems and processes throughout our sales activities and strengthen internal controls.”
In the cosmetics industry, a case of embezzlement occurred in Clio earlier.
Clio employee A was recently arrested on charges of embezzling regarding 1.89 billion won, such as depositing a portion of sales received from a home shopping cosmetics company into a personal account for regarding a year from early last year to early this year. It was reported that Mr. A wasted most of his embezzlement money on gambling, so it was difficult to preserve the additional collection.
In addition to these companies, there have been several cases of embezzlement of billions to tens of billions of won this year.
In January of this year, at Osstem Implant, a financial management employee was caught stealing 221.5 billion won of company money and using it to invest in personal stocks.
In addition, an employee of the Gangdong-gu Office in Seoul was caught embezzling 11.5 billion won in public funds and using it to invest in stocks.
In March, there was also an incident where a team leader-level employee of LG U+ stole billions of won and disappeared.
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