Wanted SoKor woman scammer nabbed

The Bureau of Immigration (BI) reported the arrest of a South Korean woman wanted by Seoul police and Interpol for her role in a multimillion-dollar real estate investment scheme.

BI commissioner Atty. Joel Anthony Viado identified the fugitive as Kim Jeonjung, who was apprehended last 18 February at her residence in Parañaque City by the BI Fugitive Search Unit.

According to Viado, Kim was arrested on the basis of a mission order he issued due to the request of the South Korean government, which asked the BI for assistance in locating and deporting the fugitive.

“She will be deported so that she can face trial in her homeland for the crime she committed. Her name will be added to our blacklist and prohibited from returning to the country,” Viado said.

Based on records, Kim was the subject of an Interpol red alert issued on 12 August of last year. This followed an arrest warrant issued by the Suwon district court in Korea after she was accused of fraud.

Korean officials said that Kim and her associates plotted to enlist fictitious trustees to circumvent loan restrictions and take real ownership of several buildings.

They allegedly forced victims into signing leases and bought real estate without actually owning it through a non-capital gap investment strategy.

As a result of the extensive rental fraud, the suspects earned 7.5 billion won or more than US$5.2 million in lease deposits from several tenants.