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Korean Air Lines Exec Sentenced to 41 Months for $600K Bank Fraud
Hagatña, Guam – In a brazen case of corporate deception, former Korean Air Lines Guam Office Manager Sung Peel Hwang, 39, has been sentenced to 41 months imprisonment for orchestrating a bank fraud and money laundering scheme that netted him over $600,000.
According to court documents, Hwang engaged in a three-year scheme beginning in September 2015 and continuing until December 2018 to defraud his employer and embezzle funds from Korean Air Lines’ Guam office.
As an administrator at the Guam KAL office, Hwang was responsible for reporting passenger numbers and paying corresponding Passenger Facility Charges (PFCs) to the Guam International Airport Authority (GIAA). Instead, he underreported the PFCs owed to GIAA, pocketing the difference for himself.
Over the course of the scheme, Hwang deposited over $3.5 million in KAL funds into his personal bank account and diverted over $600,000 to his own use.
“Hwang cheated his employer and GIAA out of a substantial sum of money,” stated United States Attorney Shawn N. Anderson. “Fortunately, GIAA’s auditing procedures eventually revealed this scheme. The sentence imposed by the Court is a strong message of accountability and deterrence.”
The investigation was conducted by the FBI Guam Resident Agency and the Internal Revenue Service Criminal Investigation Division, with Assistant United States Attorney Benjamin K. Petersburg handling the prosecution.
Hwang’s sentence includes 41 months imprisonment, 5 years of supervised release, restitution of $615,271.51, and a mandatory $200 special assessment fee.
Key Facts
- State: Guam
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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