3 Nabbed For Swindling Korean Businessman

By Mike Frialde (The Philippine Star) | Updated June 20, 2015 - 12:00am

 

 

MANILA, Philippines - Three persons were arrested in a sting in Makati City Thursday night for allegedly swindling $180,000 from a South Korean businessman.

Lucio Uy, 86; Flora Abadesco, 55; and Lilibeth Panelo, 54, were apprehended by police officers from the Criminal Investigation and Detection Group (CIDG) as they received marked money from Jung Hyun Yu.

The suspects will be charged with syndicated estafa before the Makati prosecutor’s office, the CIDG said.

CIDG spokesperson Chief Inspector Elizabeth Jasmin said Jung was looking for additional capital or a guarantor for his housing project in Sri Lanka.

According to the CIDG, Uy – who has been a friend of Jung since 2010 – told the victim he knows of an institution, with a large deposit in a Philippine bank, that could act as a guarantor for him.

Jung was then asked to shell out $180,000 to cover processing fees for the transaction between the the institution’s Philippine bank and Jung’s bank in South Korea. Police said Jung handed over the money to the suspects, who in turn, gave him bank documents for the supposed transaction.

Nation ( Article MRec ), pagematch: 1, sectionmatch: 1

Jung then checked the supposed bank documents with the Philippine bank, but was told that the signatories on the documents were non-existent.

Jung then sought the help of the CIDG when the suspects again contacted him and asked for another P500,000, supposedly in exchange for introducing him to another prospective guarantor.


Source:  http://www.philstar.com/metro/2015/06/20/1467815/3-nabbed-swindling-korean-businessman


Comment:
Sometimes ... very rarely... there is justice, even for foreigners. But you still need to be careful about who your friends really are.