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S. Korea: Con artists defraud man by promising to ‘attract Imelda’s slush funds’
Donga Ilbo ^ | 2014/10/29

Posted on 10/29/2014 2:41:04 AM PDT by TigerLikesRooster

Con artists defraud man by promising to ‘attract Imelda’s slush funds’

OCTOBER 29, 2014 05:08.

Lee, 45, facility manager for a building in Seoul’s Gangnam district, was struggling amid financial difficulties because he had yet to receive five-month salary in arrears around May 2012. While agonizing to overcome his difficult situation, he received an interesting offer from Park, whom Lee came to know through one of his acquaintances. Park, who came to see Lee with a colleague, said, “Slush fund worth hundreds of millions of dollars belonging to Imelda, the wife of former Philippine President Ferdinand Marcos, is being kept in accounts at the Bank of Korea. ” Infamous for her addiction to shoes shopping, Imelda Marcos is considered the "symbol of extravagant lifestyle. ”

Park said, “I know Chairman Park, who was commissioned with management of the slush funds. I have a plan to mobilize power elite in the political and business communities with the chairman, and please arrange the necessary expenses for us. ” Park further suggested, “Let’s use a portion of the slush fund to purchase the building you are working at and then resell offices in the building. ” Park and his accomplice even showed Lee a picture of their acquaintance who was introduced as the “chairman” posing with Imelda. With the hope to become the building’s owner, Lee handed over 100 million won (95,000 U.S. dollars) in expenses to Park, and used another 100 million won in drinking parties to entertain Park’s group.

Lee gave Park and his accomplice money through collateralized loans for his own apartment, fund for his younger brother’s wedding, and cash withdrawals from his family’s credit cards. However, he did not hear news for more than nine months that Park’s group succeeded in withdrawing the slush fund. Learning that he had been swindled, Lee filed compliant with police against the two men including Park. Gangnam Police Station said on Tuesday that it arrested on the charge of fraud the duo including Park, who defrauded Lee at the excuse of attracting funds from slush funds. A source at the police station said, “The slush funds that allegedly belong to Imelda did not exist. Completely shocked, Lee attempted suicide three times.”


TOPICS: Chit/Chat; Humor; Local News
KEYWORDS: fraud; imeldamarcos; skorea

1 posted on 10/29/2014 2:41:04 AM PDT by TigerLikesRooster
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To: TigerLikesRooster

a fool and his money...everybody knows this stuff has to come from nigeria to be any good


2 posted on 10/29/2014 4:23:44 AM PDT by camle (keep an open mind and someone will fill it full of something for you)
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To: camle
a fool and his money...everybody knows this stuff has to come from nigeria to be any good

There are so many idiots in the world, but I don't think the Nigerians are going to take too kindly to others trying to upstage them.

3 posted on 10/29/2014 4:59:06 AM PDT by Mark17 (MAs & PAs: Mugwumps, high jumps, low slumps, big bumps-don't you work as hard as you play)
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To: Mark17

A perfect time for an outsider to sneak in and play a Nigerian scam because, for the moment, Nigerians are preoccupied with fending off Ebola outbreak.


4 posted on 10/29/2014 5:21:43 AM PDT by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster
A perfect time for an outsider to sneak in and play a Nigerian scam because, for the moment, Nigerians are preoccupied with fending off Ebola outbreak.

Yes, not to mention fighting off Boko Haram.

5 posted on 10/29/2014 5:37:19 AM PDT by Mark17 (MAs & PAs: Mugwumps, high jumps, low slumps, big bumps-don't you work as hard as you play)
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