A gold shop owner in his 40s who absconded with approximately 2.8 billion won ($2 million) worth of precious metals and cash belonging to customers has been referred to prosecutors after his arrest.
According to reporting by Seoul Economic Daily on the 27th, the Hyehwa Police Station in Seoul has completed its investigation and transferred the suspect, identified only by his surname Lee, to the prosecution.
Lee faces fraud charges for allegedly fleeing around December 12 with gold products that customers had entrusted for metalworking services, as well as cash payments sent for gold bar orders, from his jewelry shop in Seoul's Jongno district.
Lee had reportedly been operating his business in a "shop-in-shop" arrangement, renting a section of space within another jewelry store in Jongno.
Police have received numerous complaints from individuals claiming to be victims of Lee's alleged scheme. The number of victims is reported to reach approximately 30.
Following a pre-arrest detention hearing on the 23rd, the court issued an arrest warrant, citing concerns over flight risk and potential destruction of evidence.