Title: South Korean Man Sentenced for Financial Crime in Northern Mariana Islands: Embezzling Over $600,000 from Korean Air Lines

Sung Peel Hwang, a South Korean National, Pleads Guilty to Bank Fraud and Money Laundering

• Sung Peel Hwang, a 39-year-old South Korean national and naturalized U.S. citizen, has been sentenced to serve 41 months in prison for bank fraud and money laundering.
• Hwang embezzled over $600,000 from Korean Air Lines (KAL) in the Northern Mariana Islands.

Details of the Embezzlement Scheme

From September 2015 to December 2018, Hwang, who worked as a former administrator at the KAL Guam office at the Guam International Airport (GIAA), orchestrated a three-year scheme to defraud his employer and the airport authority:

1. Underreporting Passenger Facility Charges (PFC) to GIAA:
   • Hwang kept the difference, amounting to over $3.5 million, for himself.

Consequences of Hwang’s Actions

• U.S. Attorney Shawn N. Anderson remarks on the monetary damage.
• FBI Special Agent in Charge Steven Merrill’s statement on addressing financial crimes.
• IRS-Criminal Investigation Special Agent in Charge Adam Jobes’ emphasis on fighting financial crime.

Penalties and Restitution

Aside from the prison term, the court also ordered:

• 5 years of supervised release.
• Restitution of $615,271.51.
• A mandatory $200 special assessment fee.

Investigation and Prosecution

• Investigation conducted by the FBI Guam Resident Agency and the IRS Criminal Investigation Division.
• Prosecuted by Assistant U.S. Attorney Benjamin K. Petersburg.