Warehouse manager arrested for stealing W6.8b in cash from storage

A warehouse manager in his 40s was arrested for allegedly stealing 6.8 billion won ($5.04 million) in cash from a storage facility he oversaw, police said Friday.

The Songpa Police said it handed the case over to the prosecution, with the man facing charges, including theft, obstruction of business and property damage.

The suspect exited the police station at 7:37 a.m. Friday, wearing a gray hat and mask, repeatedly saying “I am sorry.”

According to police, the man stole the cash from the rental storage facility in Jamsil, southern Seoul, from 7:04 p.m. on September 12 to 1:21 a.m. the following morning. He then transferred the money to another warehouse in the same building, which he had rented under his wife’s name.

On September 15, he allegedly moved the money to another location in Bucheon, Gyeonggi Province.

The victim reported the theft to police on September 26, after discovering the money -- which had been divided into six travel bags in 50,000 won bills -- was gone.

Police investigation revealed the suspect used a master key to open the victim’s storage unit and transferred the cash into his own bags. To cover his tracks, he filled the original bags with stacks of paper and left a note inside them. The note read, “Pretend you don’t know me, even if you do. Then I won’t say anything.” He also disabled the storage’s CCTV and damaged the hard drive.

During questioning, the man claimed that while inspecting the warehouse, he spotted unzipped travel bags containing the money and became greedy.

The suspect was arrested on Oct. 2 in Suwon, Gyeonggi Province. At first, he denied the allegations, but police found 4 billion won hidden in Bucheon, which led him to admit to the crime.

The suspect maintained that he had only stolen 4 billion won, but the victim reported missing 6.8 million won.

Authorities have seized the cash and are continuing to investigate the exact amount stolen and whether any additional funds remain hidden.

The authorities are also investigating the origins of the money, and why such a large sum was stored in a rental warehouse in the first place.