No one knows for sure, but if you’re lucky enough to catch him, you may find plenty of treasures in his sack. From time to time, the Greedy Hoarder ventures out into the Northern Lands (4-5 skulls).
Despite how fast he runs, you can always think of something to keep him from slipping away. Try using a Scroll of Freezing or the Ice Sword. Don't forget that you can stun him or set traps too. If he's already running away from you, try hitting him with a bow or crossbow at a distance. Remember: when it comes to this creature, anything goes.