THE AUTHORITIES ARE now on the lookout for the two South Korean nationals who are reportedly behind the modus that named a housemaid as the owner of two posh mansions worth more than ₱500 million in the exclusive Ayala Alabang Village (AAV) in Alabang, Muntinlupa.
Sources from the Presidential Anti-Organized Crime Commission (PAOCC) under executive director Gilbert Cruz identified the two South Koreans as Hong Sung Chul and Hong Sungchan, who are both residents of 416 Ipo Street in Ayala Alabang Village.
The duo reportedly used their driver’s licenses from the Land Transportation Office (LTO) as their means of identification in their dealings to acquire properties in the Philippines, particularly that of the two mansions in AAV.
The first property they acquired, which has a Transfer Certificate of Title (TCT) No. 014-202…..98, is about 861 square meters and based on conservative estimates of the prevailing rates of ₱300,000 per square meter, it would priced to more than ₱258,300.000.
The other property, that is now also owned by the house maid and under TCT No. 014-2…….88, is 702 square meters and at the same real estate value of ₱300,000 per square meter, is worth ₱210,600.000.
…[T]he housemaid, known as a native of Pantar, Lanao del Norte, is… now encountering problems with the BIR as state auditor have pointed out that she apparently doesn’t have the capacity to buy the properties…
POGO CONNECTION
It was learned that the older of the two Koreans, Hong Sungchan, also holds another foreign passport from the Commonwealth of Dominica, something that the authorities should investigate since there are also information that he is a fugitive in his country.
It is also alleged that the business of both Koreans is connected with the Philippine Offshore Gaming Operators (POGO) hub located at the Double Dragon Plaza in Pasay City even as the elder Hong is now allegedly diverting his money into other seemingly legitimate businesses and investments due to the crackdown on all POGOs since December last year.
Meanwhile, the PAOCC informant disclosed that the housemaid, known as a native of Pantar, Lanao del Norte, is the registered owner of the two AAV mansions. She is now encountering problems with the Bureau of Internal Revenue (BIR) as state auditor have pointed out that she apparently doesn’t have the capacity to buy the properties in question even if she also works as a “dog trainor” as a sideline to augment her meager earnings.