MANILA, Philippines — The Bureau of Immigration on Tuesday arrested a 60-year old South Korean national wanted for swindling in his homeland.
Commissioner Jaime Morente said Kim Youngho was arrested at his residence in Barangay Almanza Uno, Las Piñas City by the Bureau’s Fugitive Search Unit.
The suspect was the subject of an Interpol red notice which stemmed from an arrest warrant that a South Korean court issued against him.
“We will deport him as he poses a risk to public safety and security. We should not allow foreign fugitives like him to use our country as a refuge and evade punishment for their crimes,” Morente said in a statement Wednesday.
The foreigner is detained at the BI jail in Camp Bagong Diwa, Taguig, and is set to be deported to South Korea where he is wanted by authorities for the crime of embezzlement.
BI-FSU chief Bobby Raquepo said Kim had been hiding in the country for more than two years and was already overstaying at the time of his arrest.
According to the information provided by the South Korean embassy, the foreigner, who owned a futures trading company in South Korea, conspired with two other suspects in swindling a South Korean of more than 137 million won or nearly $122,000.
They allegedly lured the victim to invest his money on the promise that his investment would triple in value after it is traded in the futures market.
“However, instead of delivering on their promise, the suspects absconded with the victims’ money and fled to China in May 2015 and then to Manila a few weeks later,” Raquepo said.