Relay runner met at the bathhouse... Disappeared with 1.5 billion won from the rotating savings fund

In Gimhae, Gyeongnam, a relay race participant fled with 1.5 billion won of the prize money, prompting the police to launch an investigation.
[Image source=Yonhap News]

[Asia Economy Intern Reporter Kim Bong-ju] In Gimhae, Gyeongnam, the organizer of a rotating savings group absconded with 1.5 billion won, prompting the police to launch an investigation.

The Gimhae Jungbu Police Station announced on the 5th that they are investigating after receiving consecutive complaints on the 3rd and 4th stating that the organizer had taken the pooled money and disappeared.

According to the group members, A (61, female), the organizer of the so-called 'beonhogae' living in Samgye-dong, Gimhae, has been unreachable since turning off her phone on the 1st.

Beonhogae is a type of rotating savings where several members pool money and take turns receiving the lump sum. Those in urgent need get earlier turns to receive the pooled money faster. However, after receiving the lump sum, they must pay interest on the amount owed to continue participating, so those with later turns end up paying more interest.

There are 26 members participating in A's beonhogae, all residing in Samgye-dong, Gimhae.

The members said they met A at a local bathhouse in the neighborhood. They have been sending money monthly to A's account, some for as long as three years and others since last year. The losses range from 40 million won to 10 million won per person, with total damages amounting to 1.5 billion won, they claimed.

After it became known that about ten members had agreed with A on the 31st of last month to receive their money back, they reported to the police, suspecting that A deliberately disappeared starting from the 1st.

One member said, "We first met at the bathhouse and have known each other for eight years. I joined the beonhogae three years ago at A's suggestion and deposited 1 million won monthly. Since we had a long-standing relationship and I had previously received payouts, I did not suspect anything."

The members have created a group chat to share information about the damage and are searching for A's whereabouts.

The police have begun a full investigation, summoning the victims to gather detailed information about the case.

This content was produced with the assistance of AI translation services.