Korean newspapers report that two 48-year old CEOs of companies that provide consultation for Koreans who want to study abroad were arrested yesterday for allegedly illegally hiring Ivy League students to teach SAT classes. Ten students came to work in Korea without work visas. Nine were students of Yale and Harvard and one was a student of Boston University.

Police said the two CEOs placed advertisements on the Web sites of the universities. The students entered Korea on tourist or religion visas and taught Korean teenagers in the affluent Gangnam district of Seoul during summer vacation; the students have already left Korea.

During the roughly two-month period, the two brokers earned about 86 million won ($76,308), while the U.S. students received an average of 10 million won ($8,870).

Sounds like a pretty good summer job. There is always money to be made off of rich families who want to send their kids abroad for college.