SEOUL — Consumers have filed a formal complaint against the executives of e-commerce giants WeMakePrice and TMON, including the head of their parent company, Singapore-based Qoo10, Ku Young-bae. The complaint, submitted on Monday, arises from ongoing payment delays to both consumers and vendors, significantly disrupting business operations and customer trust.
According to Yonhap News Agency, the complaint targets five individuals on charges of fraud, embezzlement, and breach of trust. The police have assigned the case to their investigation department, signaling the beginning of a detailed inquiry into the matter. An official stated that they would conduct interviews and follow standard procedures to ascertain the depth of the alleged financial mismanagement.
The gravity and scale of the accusations have prompted speculation that the case might be escalated to the financial crime unit of the Seoul Metropolitan Police Agency. Concurrently, prosecutors are exploring possible legal actions against the platforms, with the anti-corruption department of the Seoul Central District Prosecutors Office reviewing the case extensively. This investigation aims to address the substantial losses suffered by the victims and the broader implications on market stability caused by the alleged corporate malfeasance.
Judicial officials have indicated that if TMON and WeMakePrice are found to have continued contractual sales despite knowing they could not fulfill financial obligations to vendors, fraud charges could be applicable. Moreover, there are suspicions of embezzlement and breach of trust if it is proven that management misused sellers' funds to finance other business activities amidst their liquidity crisis.