Lee Mo, the former advisor of Namyang Dairy and wife of its late chairman Hong Won-sik, is under police investigation for allegedly donating and supporting around 800 million Korean won in company funds to social and cultural arts organizations in her personal capacity. Lee is also under investigation for allegedly purchasing furniture worth around 100 million Korean won using company funds.
On the 9th, the Gangnam Police Station in Seoul announced that Lee was formally charged on the 8th with breach of trust under the Specific Economic Crimes Aggravated Punishment Act and is currently under investigation.
Lee is accused of donating 858 million Korean won from company funds to social and cultural arts organizations under the guise of donations and sponsorships while serving as an executive at the company from 2002 to 2023. The organizations include the International Soroptimist Korea Association, Sejong Soloists, Hyundai Museum of Art Council, and (Re)Areumjigi Foundation.
Although Lee lost her management rights and company shares in January 2024 after retiring from Namyang Dairy, she was found to still hold key positions such as representative and vice president in these organizations.
Previously, Lee was reported to prosecutors in August 2024 for the same allegations, but prosecutors decided not to indict, ruling that the donations and sponsorships were part of company operations to gain tax benefits and enhance its image. The current report includes the previously non-indicted allegations as well as additional charges discovered in an internal company investigation.
Separately, Lee is under investigation for allegedly purchasing high-end sofas worth approximately 154 million Korean won using company funds in 2018. The sofas were reportedly found at her residence, not at company offices or food service locations.
Additionally, Lee and her son Hong Mo, a former Namyang Dairy executive, were convicted in the first trial for misappropriating around 3.7 billion Korean won in company funds. The Seoul Central District Court sentenced Lee to two years and six months in prison, suspended for four years, and Hong Mo to two years in prison, suspended for four years, on January 29.
jasdooit 
Leave a comment