The Bureau of Immigration (BI) has announced the arrest of a South Korean woman, Kim Jeonjung, who is wanted for her involvement in a multi-million dollar real estate investment scam.
Kim, 30, was apprehended on February 18 at her home in Parañaque City by the BI’s fugitive search unit, BI said in a news release posted on its Facebook page Thursday, February 20.
According to Immigration Commissioner Joel Anthony Viado, Kim’s arrest was made possible through a mission order he issued at the request of the South Korean government, which sought assistance in locating and deporting her.
“She will be deported so she could stand trial for the crime that she committed in her homeland. She will then be placed in our blacklist and banned from re-entering the country,” Viado said.
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Records indicate that an Interpol red notice for Kim was published on August 12, 2024 due to a warrant issued by the Suwon district court in South Korea, where she faces charges of fraud.
Authorities in South Korea claim that Kim, along with her accomplices, recruited nominal trustees to bypass loan limits and gain actual ownership of multiple buildings.
They allegedly made victims sign lease agreements and used a non-capital gap investment method to acquire real estate without true ownership. This scheme reportedly defrauded tenants, leading to lease deposits totaling 7.5 billion won, or over $5.2 million.
Investigations revealed that Kim is overstaying in the Philippines, as her last entry into the country was on December 21, 2023.
She is currently detained at the BI Warden’s Facility in Camp Bagong Diwa, Taguig City, while awaiting deportation proceedings, BI said.
