"Gold shop owner absconded with 2.7 billion won from 14 customers"... Heartbreaking gold investment

[Financial News] A couple who own a gold exchange and went into hiding after swindling a large sum of 2.7 billion won from investors using the so-called 'gold-tech' (gold + investment) as bait are being pursued by the police.
Jeonju Wansan Police Station in Jeonbuk Province announced on the 15th that it is investigating A, a 40-year-old operator of a gold exchange in Wansan District, Jeonju, and her husband B, a 50-year-old, on charges of fraud under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes.
According to the police, the couple reassured the victims by claiming that they personally operated an offline gold exchange. It was found that the victims, firmly believing that "since they are the owners of a real gold exchange, they must have special skills in gold trading," readily handed over hundreds of millions of won in investment funds.
In the early stages of the crime, Mr. and Mrs. A built trust with the victims by paying out a portion of the promised profits or physical gold. However, as the price of gold turned downward and no profits were generated, starting in February of this year, they survived by using the so-called "Ponzi scheme," paying out profits to existing investors with money from new investors.
Eventually, having reached their limit, they suddenly disappeared after pocketing a large sum of money. To date, there are 14 victims who have filed complaints with the police, and the total amount of damages is estimated at 2.7 billion won.
The police, who launched a full-scale investigation after receiving reports of damage in Jeonju and Iksan earlier this year, formed a dedicated team considering the seriousness of the matter. Subsequently, they have been increasing the pressure by conducting coercive investigations, such as searching the couple's home and office last July.
A police official stated, "Given the significant amount of damages, we are actively considering measures to secure custody, such as applying for an arrest warrant for the main culprit, Mr. A," adding, "We are thoroughly investigating the exact circumstances of the case, including whether the husband, Mr. B, conspired in the crime."

[email protected] Park Ji-hyun Reporter