[Asia Economy Honam Reporting Headquarters, Reporter Yoon Jamin] A woman in her 50s who committed a multi-billion won fraud targeting wealthy individuals in the Gwangju area and went into hiding has been apprehended by the police.
On the 14th, the Gwangju Western Police Station announced that they have arrested and are investigating A (54) on charges of fraud for fleeing without repaying investment funds borrowed under the pretext of real estate development.
A is accused of embezzling about 4 billion won from a prominent construction company owner for land purchase costs. She is also charged with failing to repay investment funds borrowed from another wealthy individual.
So far, there have been three complaints filed against A, totaling approximately 6 billion won.
A reportedly took courses in university executive management programs, built relationships with local wealthy individuals, and used the network she developed to conduct real estate investment and brokerage businesses.
When a complaint was filed with the police, she refused to comply with investigation requests and went into hiding with her family.
The police obtained an arrest warrant and, after tracking her whereabouts for over two months, apprehended A at a resort facility in Buan-gun, Jeonbuk Province.
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