MANILA — Two South Korean nationals wanted in connection with multi-million-dollar investment scams were arrested last week in Parañaque City, the Bureau of Immigration (BI) announced Monday.
BI Commissioner Joel Anthony Viado identified the suspects as 58-year-old Kim Young Sam and 59-year-old Weon Cheolyong, who were apprehended on April 22 inside Kim’s residence in BF Homes village.
Kim had been the subject of an Interpol red notice since 2018 and was declared an undesirable alien by the BI Board of Commissioners in December 2021, paving the way for his immediate deportation. He is accused of leading a fraudulent operation in South Korea, soliciting investments under the guise of developing a cryptocurrency business. Authorities said 253 individuals were defrauded through the scheme.
Weon, meanwhile, was found to be overstaying in the country and is also a fugitive wanted for investment fraud in South Korea.
Both men are now held at the BI custodial facility at Camp Bagong Diwa in Taguig City, where they will remain until their deportation is finalized.
The BI reiterated its commitment to working with international law enforcement to apprehend foreign fugitives and protect the country from transnational crimes.
