The owner of a gold and silver shop in Jongno-gu, Seoul, accused of deceiving customers and acquaintances to seize gold and cash and causing more than 15 billion won in losses, was sent to prosecutors under arrest.
The Financial Crimes Investigation Unit of the Seoul Metropolitan Police Agency's Major Crimes Investigation Division sent a man in his 50s, identified as A, to the Seoul Central District Prosecutors' Office on the 20th under arrest on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes.
A is accused of taking gold from customers and acquaintances by saying, "If you deposit gold, I will pay dividends," then failing to pay the dividends, or embezzling money from a private savings club. Police said the damages exceed 15 billion won, with 146 victims.
Police arrested A on the 10th and applied for an arrest warrant on the 12th. Accepting the prosecution's request, the court issued the warrant, citing concerns about flight risk.
Police plan to continue the investigation, including verifying assets A concealed.