Prosecutors indict Qoo10 CEO Goo Young-bae on additional fraud charges involving 800 million won

Eight former and current executives of e-commerce firm Qoo10, including CEO Goo Young-bae, have been additionally indicted on fraud charges totaling approximately 840 million won in relation to the large-scale non-payment of settlements at Tmon and Wemakeprice. The Seoul Central District Prosecutors' Office, Anti-Corruption Investigation Division 1, announced on the 29th that Goo, former Tmon CEO Ryu Kwang-jin, and former Wemakeprice CEO Ryu Hwa-hyun were indicted without detention on charges of fraud under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes. During the investigation of victim complaints, prosecutors identified an additional 840 million won in damages. The executives are accused of exploiting Tmon and Wemakeprice's practice of temporarily holding settlement funds due to sellers (merchants) to embezzle and siphon off the money. This case is drawing attention as platform users could potentially suffer losses due to unpaid settlement funds.

Regarding 13 individuals, including internal executives and external company representatives, who filed complaints or reports, prosecutors decided not to indict them due to insufficient evidence to prove their charges.

Previously, in December 2024, prosecutors had indicted Goo, former CEOs Ryu Kwang-jin and Ryu Hwa-hyun, along with 7 others (a total of 10 individuals), on fraud charges amounting to approximately 1.85 trillion won in relation to the large-scale settlement non-payment issues at Tmon and Wemakeprice.