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A real estate investment in Ridgefield Park promised huge returns, Ha Young Park told a fellow church member. All he needed, Park said, was $1.4 million. Now, the accused con man is under arrest and his former pal is out a huge chunk of change.
Park, 61, told the victim the investment “would yield an extremely lucrative return on his investment,” Bergen County Prosecutor John L. Molinelli said. “The victim believed and trusted Park because they had been friends since high school and attended the same church where Park is an elder.”
As time went by, Park’s buddy began wondering when the return on his $1.4 million was coming. Park, in turn, “falsified documents which indicated that Park had $18 million in an escrow account earmarked for the project,” which he said he collected from other affluent investors.
Assisted by the local police department, investigators from Molinelli’s office arrested Park at his home in Tuxedo, N.Y., last week, charging him with theft, forgery and corporate misconduct.
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