Korean government recovers $8m of illegal assets

Investigators from South Korea’s state-run deposit insurer have announced their largest overseas illegal assets haul ever after they tracked down and recovered large land holdings owned by a Korean fraudster near Phnom Penh.

The haul, worth some $8 million, sheds light on the use of the Kingdom’s booming property market as a method of stashing illegal proceeds from abroad, along with representing another case of a South Korean property investment in Cambodia being financed by illegal loans. …

 Charles Rollet
http://www.phnompenhpost.com/national/korean-government-recovers-8m-illegal-assets

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