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Police have referred a jewelry shop owner in Jongno-gu, Seoul, to the prosecution under detention in connection with a case where he allegedly took gold and cash from customers before disappearing.
The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency referred the suspect, a man in his 50s identified as A, to the Seoul Central District Prosecutors Office today (July 20) on charges of fraud under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes.
A is accused of soliciting gold from acquaintances and others by promising them dividends, only to fail to pay the dividends, and of embezzling money from private savings clubs, known as gye.
The case first came to light after a complaint was filed at the Seoul Hyehwa Police Station on June 3, and it was later publicized through SBS reports. Recognizing the gravity of the situation, the Seoul Metropolitan Police Agency transferred the case to the Financial Crime Investigation Unit for further investigation.
According to police, the total damage exceeds 15 billion won, with 146 victims identified.
The police stated, "We are currently identifying assets hidden by A," adding that "the investigation will continue."
The police requested an arrest warrant for A on July 12, and the court issued the warrant on July 13, citing concerns that he might flee.
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