The Bureau of Immigration (BI) reported the arrest of another South Korean woman who is wanted by authorities in Seoul and the Interpol for involvement in a multi-million dollar real estate investment scam.
The BI identified the fugitive as Kim Jeonjung, 30, who was arrested on Feb. 18 in her residence in Paranaque City by operatives from the BI’s fugitive search unit (FSU) headed by Rendel Ryan Sy.
Kim was arrested on the strength of a mission order that he issued at the request of the South Korean government which sought the BI’s help in locating and deporting the fugitive.
She will be deported so she could stand trial for the crime that she committed in her homeland and will then be placed in our blacklist and banned from re-entering the country.
BI spokesperson Dana Sandoval said that based on records, Kim is subject of an Interpol red notice published on Aug. 12 last year due to a warrant of arrest that was issued against her by the Suwon district court in Korea where she was charged with fraud.
Korean authorities alleged that Kim and her cohorts conspired in recruiting nominal trustees to circumvent loan limits and gain actual ownership of multiple buildings.
They were said to have made victims sign lease agreements and used a non-capital gap investment method to acquire real estate without actual ownership.
As a result, the suspects fraudulently received lease deposits from various tenants amounting to 7.5 billion won, or more than US$5.2 million through the large-scale rental fraud.
A check of Kim’s travel record showed that she is already overstaying as his last arrival in the country was on Dec. 21, 2023..
She is currently held at the BI Warden’s Facility in Camp Bagong Diwa, Taguig City, while awaiting deportation proceedings.
