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LA woman arrested for million dollar scam

February 3, 2011 12:00:00 AM PST
A woman is in custody, suspected of deceiving at least nine victims out of millions of dollars in a scam that she has been working on for at least the past year.

Los Angeles police said 45-year-old Hyun Mi Kang, also known as Jennifer Kang, befriended people in the Korean community to gain their trust and confidence. Once she had done so she would ask them to invest with her in various "business ventures," promising the investor a substantial return for their investment.

Investigators said Kang never made good on her promises, and never returned any of the capital she collected. Police think there may be other victims who have not come forward.

Kang was being held on $1 million bail.