From Manila Bulletin:
By Jun Ramirez
Bureau of Immigration (BI) operatives have arrested a South Korean fugitive wanted for swindling a compatriot in a futures trading scam and absconding with the latter’s money by fleeing to the Philippines.
BI Commissioner Jaime Morente said the 60-year-old Kim Youngho was arrested by operatives from the bureau’s fugitive search unit (FSU) Tuesday at his residence in Las Piñas City.
Morente said Kim, who is now detained at the BI jail in Camp Bagong Diwa, Taguig, will be deported to Seoul, Korea where he is wanted by authorities for the crime of embezzlement.
He added that the Korean was the subject of an Interpol red notice which stemmed from an arrest warrant that a 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.
BI-FSU chief Bobby Raquepo disclosed that Kim had been hiding in the country for more than two years and was already overstaying at the time of his arrest.
Citing information provided by the Korean embassy, Raquepo said that Kim, who owned a futures trading company in Korea, conspired with two other suspects in swindling a Korean of more than 137 million won or nearly $122,000.
They allegedly enticed 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.
Kim’s accomplices are now the subject of a continuing manhunt.