Prosecutors drop case over destruction of Bank of Korea currency bands, citing lack of evidence

Prosecutors have closed their investigation into allegations that currency bands on seized cash were deliberately destroyed at the Seoul Southern District Prosecutors' Office, finding no grounds for charges.

The Seoul Southern District Prosecutors' Office said Thursday it had dropped the case after finding "no evidence to establish that those responsible for handling seized items intentionally damaged or destroyed the packaging and bands on the bundled currency, or that evidence was concealed in an organized manner."

The case stemmed from a December 2024 search and seizure at the home of Jeon Seong-bae, a Buddhist monk known as Geonjin Beopsa, during which prosecutors recovered bundles of cash including Bank of Korea-sealed currency packets worth 50 million won (about $32,700).

The investigation drew scrutiny after the bands and stickers on the cash bundles — which bore information on inspection dates, responsible personnel and departments — went missing, raising concerns about improper evidence management.

The Supreme Prosecutors' Office announced last October that its own audit and investigation had found procedural negligence in how the currency packets were handled, but no instructions from superiors to conceal evidence.

The special prosecution team led by Ahn Gwon-seop subsequently took up the matter but was unable to reach a conclusion before its mandate expired, and referred the case back to prosecutors.