Police Receive Complaint for Embezzlement of 20 Billion Won Worth of Artworks by Lee Jung-seop, Kim Whanki, and Others

Investigation of a Man in His 50s on Charges of Fraud and Embezzlement

[Image source=Yonhap News]

[Asia Economy Reporter Oh Gyumin] A complaint has been filed alleging that a person who approached claiming to sell paintings by famous artists such as Lee Jung-seop and Kim Whanki on behalf of the owners committed fraud amounting to about 20 billion KRW, prompting the police to launch an investigation.

On the 8th, the Seoul Eunpyeong Police Station announced that they have booked a man in his 50s, identified as Mr. A, on charges of fraud and embezzlement and are currently investigating.

Mr. A is accused of approaching Mr. B, who operates an art gallery, claiming he would sell paintings and jewelry on his behalf, taking them but neither returning the items nor remitting the sales proceeds, thereby embezzling the funds.

The artworks taken by Mr. A, owned by Mr. B, include four paintings worth approximately 20 billion KRW: one painting by Kim Whanki appraised at 7 billion KRW, another by Kim Whanki appraised at 5 billion KRW, and two paintings by Lee Jung-seop each appraised at 4 billion KRW. It is reported that Mr. A boasted of close relationships with former high-ranking officials and famous politicians when approaching Mr. B.

Meanwhile, the Seoul Gwangjin Police Station, which initially received the case, transferred it to the Seoul Eunpyeong Police Station at the end of September after conducting the complainant’s investigation. The police plan to summon Mr. A soon for suspect questioning.

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