50s Man Arrested and Sent to Prosecution for Defrauding Mistress of Approximately 2.5 Billion Won

A man in his 50s who deceived his mistress by promising to enable her to obtain investment immigration and embezzled property worth billions of won has been handed over to the prosecution.

Seoul Dongdaemun Police Station
[Photo by Yonhap News]

According to the police on the 14th, the Dongdaemun Police Station in Seoul sent Kim (52), who is accused of fraud, to the prosecution in custody on the 4th.

According to the police, Kim is accused of embezzling property worth approximately 2.58 billion won, including cash and real estate, from Ms. A, a woman in her 50s with whom he was in an extramarital relationship. In December 2018, Ms. A sent over 800 million won after accepting Kim's proposal to "launder money so that the loan obtained through a business loan could be used for U.S. investment immigration," but Kim is known to have embezzled the funds.

Afterwards, Kim also borrowed 500 million won, claiming he needed urgent funds, and 600 million won for remodeling costs of a motel he operated. He also took out a 700 million won loan from an individual using real estate worth 700 million won owned by Ms. A as collateral. At that time, Kim was reportedly unable to repay the debts.

Earlier, when the police investigation began in September last year, Kim postponed his appearance schedule, saying he would provide an explanation, and then went into hiding. The police issued an arrest warrant and arrested Kim on the 31st of last month while he was hiding at the house of another mistress in Incheon.

This content was produced with the assistance of AI translation services.