KUALA LUMPUR, Nov 27 — Gold painting artist Kim Il-tae has spoken out about the damage to his reputation following fraud allegations involving the founder of a local art gallery in Bangsar South, with whom he had previously collaborated.

In a statement on Sunday, Kim revealed that the collaboration had left him feeling betrayed and financially devastated, with reported losses amounting to billions of Korean won.

"After the Covid-19 pandemic, in May 2022, I sent new works for an event and did everything I could to support her. However, by December that year, I learned through Kevin Lee, my manager, that the gallery owner had defrauded both Lee and me,” he said.

"This left me feeling deeply betrayed and disappointed. On December 14, 2022, I notified the gallery owner of the termination of our contract, demanded the immediate return of my artworks, and urged her to stop damaging my reputation and misusing my image rights,” Kim added.

The artist has since taken legal action with the help of Lee, his international representative, pursuing both civil and criminal charges against the gallery founder.

"This situation is a complete mess, with investors losing both trust and confidence. After years of delays, excuses, and unfulfilled commitments, it has become clear that legal action is the only viable option,” Lee stated.

The issue was first highlighted by Kepong MP Lim Lip Eng during a press conference on Sunday.

Lim revealed that several investors in Malaysia, as well as Lee, are taking legal action after being misled for years by the gallery owner, who allegedly used Kim’s works to lure investors with promises of high returns and buyback guarantees.

Lim also stated that more than 13 police reports have been filed by investors over the past two weeks, with some filing civil suits against the gallery owner for allegedly failing to appear in court. He added that the losses incurred by these investors have exceeded RM38 million.