A Kyongnam Bank employee who has been indicted on charges of embezzling more than 130 billion won in company funds was found to have embezzled an additional 160 billion won. 

Investigators at the Seoul Central District Prosecutors’ Office said Thursday that it came across the latest information and requested the Seoul Central District Court to change the written arraignment for the employee, surnamed Lee. 

With the revelation, Lee is now suspected of misappropriating nearly 301 billion won in company funds while working as the head of the investment and finance department at Kyongnam Bank.

According to prosecutors, Lee colluded with a Korea Investment and Securities Company employee, surnamed Kwang, from November 2014 to July of last year to embezzle 228-point-six billion won in company funds by fabricating withdrawal slips. 

Lee was also found to have misappropriated 80-point-three billion won on his own between July 2008 and September 2018, using the same scheme.