Korean fraudster arrested for bank scam in Morro Bay

July 21, 2016

moneyMorro 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.



  1. Rambunctious says:

    For his punishment send him back to Korea…..north Korea. lol

    (6) 8 Total Votes - 7 up - 1 down
  2. Citizen says:

    I thought that people who might flee to another country would be held without bail. I guess this guy is not considered a flight risk?

    (7) 9 Total Votes - 8 up - 1 down
    • kayaknut says:

      I’m sure they took his (fake) passport so he could not leave the country, no chance he has another (fake) passport.??????

      (7) 7 Total Votes - 7 up - 0 down
  3. SLOBIRD says:

    $20,000 bail does not seem like a lot of nail for a federal crime. It is no wonder people do crime as it sort of looks like it pays off IMO. How many of these criminal’s name keep popping up in the news media? Seems I keep hearing the same words: so and so has a warrant out for a prior violation, or a probation violation, or pending charges for…

    0As a SLO native, the past 5 – 10 years has increased crime in this County and the Country as a whole beyond our civilized society. I appreciate the difficult, dangerous and unappreciated duties of our wonderful law enforcement for their work to protect and serve it citizens. Thank you for your dedicated service. While you, and the rest of us, are not perfect, you are the best!

    (3) 5 Total Votes - 4 up - 1 down
  4. jonhartz says:

    Let’s hope they scammed that money-laundering bunch of crooks at Rabobank. BTW, their formerly bustling back-shop office on Valley Road near Los Berros is like a ghost town now, could it be the federal attention to their criminal activities has shut down a lot of their business?

    (2) 4 Total Votes - 3 up - 1 down
  5. nunsense says:

    note to law enforcement: dont take a check to cover the bail

    (18) 18 Total Votes - 18 up - 0 down

Leave a Comment