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Woman, 45, Accused Of Scamming At Least 9 Out Of Millions Of Dollars

LOS ANGELES (CNS)  — Officials have announced the arrest of a 45-year-old woman who allegedly scammed at least nine victims, and potentially dozens of others, out of millions of dollars for at least the past year.

Detectives from the Los Angeles Police Department's Olympic Division Property Crimes Unit arrested Hyun Mi Kang, also known as Jennifer Kim, Tuesday on multiple counts of suspicion of grand theft.

She is held on $1 million bail, police said.

Kang befriended unsuspecting and trusting people in the Korean community, gained their confidence, then got them to invest with her in various "business ventures."

These ventures involved property, schools and student loans, promising a substantial return on their investments, police said.

Kang never returned any of the capital she collected, police alleged.

Although police know of at least nine victims, they believe there may well be others.

Anyone with information on the case was asked to call Detective Chris Merlo at (213) 382-9370.

(©2010 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

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