Korean fraudster arrested for bank scam in Morro Bay
July 21, 2016
Morro Bay police arrested a 60-year-old man for bank fraud earlier this month. The man is suspected of being a member of a Korean gang involved in a string of bank fraud scams. [KSBY]
On July 12, Il Kwon Chung, 60, allegedly tried to open a bank account under a fraudulent name. Chung had a fake passport on him at the time, police say.
Officers nabbed Chung after he tried the same scam, under a different name, that he successfully pulled at the same Wells Fargo in Morro Bay two weeks earlier.
Officers booked Chung into the San Luis Obispo County Jail on charges of defrauding a bank and providing false identification.
Investigators say Chung’s crew has been using fake Korean passports to open bank accounts at multiple branches on the Central Coast. After opening the accounts, they deposit fake checks and withdraw cash.
Chung was previously arrested in Marin County for involvement in a bank scam, police said.
Other banks are said to be investigating similar crimes that the Korean crew has allegedly been committing. Chung is currently in the San Luis Obispo County Jail with his bail set at $20,000.
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