Charged with Fraud... Gold Valuables Worth 2.8 Billion Won
During a period of soaring gold prices, the owner of a gold and silver shop who absconded with approximately 3,000 don (about 1,125 ounces) of gold and other valuables entrusted by customers has been handed over to the prosecution in custody.
Gold products are displayed at a jewelry store in Jongno-gu, Seoul. This is not directly related to the article content. Photo by Jin-Hyung Kang
On February 27, the Hyehwa Police Station in Seoul announced that a man in his 40s, identified by the surname Lee, had been detained and referred to the prosecution on charges of fraud.
Lee is accused of fleeing with jewelry, gold bars entrusted by customers for tasks such as crafting, as well as cash sent for gold purchases, from a gold and silver shop in Jongno-gu, Seoul, around February 12.
Lee voluntarily turned himself in at the police station on February 21, where he was subsequently arrested. He is known to be an acquaintance of the shop owner and had been conducting business independently within the store.
Previously, the police had received multiple criminal complaints from victims claiming to have suffered damages due to Lee’s actions. The number of victims is estimated at around 30, and the total damages are believed to amount to approximately 2.8 billion won.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
