A man accused of making off with tens of billions of won worth of precious metals entrusted by customers faces a decision on whether he will be jailed.
According to police on the 23rd, Hyehwa Police Station in Seoul on the previous day sought an arrest warrant for A, a man in his 40s, on fraud charges. The Seoul Central District Prosecutors' Office requested the warrant from the court the same day.
A is accused of fleeing around 6:30 p.m. on the 12th with cash that customers had sent in advance to have him purchase gold products and gold bullion on their behalf, as well as gold items left for crafting. When the case was reported by the media, A turned himself in to police on the 21st and was arrested.
At first, A was known as a jewelry store owner. However, it was confirmed that he was actually an acquaintance of the proprietor who had been operating independently at the store.
It is reported that more than 30 people claim to have been victimized so far. The damage amounts to a little over 3,000 don of gold, or about 2.7 billion won at current market prices.
A detention warrant hearing for A is scheduled to be held at 3 p.m. on the day.