Villa Suicides Prompt Rental ‘King’ Crackdown in South Korea
- Police, government take action after third apparent suicide
- Korea grappling with several rental fraud cases, lost deposits
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South Korea is tightening enforcement nationwide to tackle the growing fallout from housing rental schemes that scammed millions of dollars from more than a thousand tenants.
The Korean National Police Agency said they’re bolstering their investigation into suspected rental fraud cases Thursday, including expanding inquiries to real estate brokers tied to potential fraud. The ruling party also said it will seek to confiscate all assets tied to such cases, and the government asked lenders Wednesday to suspend the auctioning of homes where tenants were scammed.