Police said a street vendor visited the loan shark last July and received 10 million won. In return he waived his rights to his daughters and let a street cleaner “adopt” them.
The street cleaner used the adoption document to secure rights to buy a luxury condominium but resold the rights to a high school teacher.
Using fake adoption documents, the ring obtained the right to buy 21 apartments in Seoul and nearby cities.
Police also charged 20 biological and 19 “adoptive parents” for accepting up to 10 million won in each case.
