Three Koreans Found Murdered In the Philippines Were Being Investigated in Multi-Million Dollar Fraud Scheme
Here is the back story on the three Koreans that were found murdered in the Philippines:
Three Korean victims found earlier this week in a remote sugarcane field in the Philippines with gunshot wounds to their heads were identified as primary suspects in a multi-million-dollar investment fraud, local media reported Friday.
The three Koreans were found dead by a local farmer on Tuesday in a sugarcane field in the rural town of Bacolor, 75 kilometers (47 miles) northwest of Manila.
They were a 48-year-old man, a 52-year-old man and a 49-year-old woman. The victims were confirmed by their fingerprints to be Korean nationals on Wednesday.
The Korean police told local media on Friday that the three victims were suspects of an investment fraud worth 15 billion won ($13.25 million).
The three individuals left the country before police formally launched an investigation, the Yonhap News Agency reported.
The victims were executives in an investment corporation that they created last year, and the 48-year-old male victim worked as its president.
They jointly operated the company for approximately one year, using a multi-level marketing investment scheme based on foreign exchange margin trading, police were quoted as saying.
While the president of the firm and the female victim were not married, they pretended to be, police said, luring investors to trust them with large sums of money with the promise of high returns.
Victims of the alleged fraud requested police since the summer to investigate the suspects. One petition was filed at the Songpa District Precinct in August and two more were filed to the Suseo District Precinct in September.
Police said the victims left Korea as the investigation was forming. [Joong Ang Ilbo]
You can read more at the link, but I wonder if they were working for a Korean organized crime group and killing them was a way to keep them quiet after they were targeted to be investigated by authorities?
Further reading:
https://www.rokdrop.net/2016/10/three-more-south-koreans-found-murdered-in-the-philippines/
Ah yes… once again the headline that reads:
“Another Murder in Philippines Highlights Danger to Koreans”
Should read:
“Another Murder in Philippines Highlights Danger to Koreans who sell drugs, insult Philippine gangsters, insult Korean gangsters, cheat people with more than 150 bucks in disposable income, or never used their money to teach patients to their children.
Or “Another vigilante killing in the Philippines” 0 accountability and no law of the land is endemic of countries with high corruption. If you can’t trust the system you take the law into your hands, which is unfortunately is becoming the norm de rigueur. Corruption is what drew the Korean criminals to the Philippines and what got them killed. Let’s face it, the Philippines is becoming a failed state.
Failed state? Perhaps. But will it be because of Duterte or from everyone that came before him?
I am cautiously optimistic that after a year or two of dead drug dealers and junkies that the market will be drastically reduced. Hopefully more foreigners would find it a more appealing place to live or invest once the flow of Chinese crank is reduced.
However, the worst drug in the Philippines is and always will be the Muslim faith.