Bureau of Immigration (BI) agents arrested a South Korean woman wanted by authorities in Seoul and Interpol for a multi-million dollar real estate investment scam.
The fugitive, identified as Kim Jeonjung, was arrested in her residence in Paranaque City by operatives from the BI’s fugitive search unit (FSU).
Kim was arrested on the strength of a mission order at the request of the South Korean government which sought the BI’s help in locating and deporting the fugitive. 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 and received lease deposits from various tenants amounting to 7.5 billion won, or more than $5.2 million through the large-scale rental fraud. She is currently held at the BI Warden’s Facility in Camp Bagong Diwwa, Taguig City, while awaiting deportation proceedings.
