Korean fugitive nabbed in Las Piñas

Lian Buan
Korean fugitive nabbed in Las Piñas
The Korean fugitive is able to continue his scam from a company in Pasay

MANILA, Philippines – A fugitive wanted in South Korea was arrested in Las Piñas City last month, the Bureau of Immigration (BI) said on Friday, April 7.

The fugitive was identified as 45-year-old Ma Yoonsik, who has been evading arrest in South Korea for a multi-million-dollar financial pyramiding scam.

Ma was apprehended on March 29 by the BI fugitive search unit (FSU).

He will be deported to Seoul, where he faces 10 years of imprisonment if convicted for the charges. He will be under the custody of the National Bureau of Investigation (NBI) in the meantime.

PH crime ring

BI Commissioner Jaime Morente said Ma was able to put up a company in Pasay where he continued his scheme of defrauding unsuspecting victims.

Morente said Ma got the help of 6 other Koreans to operate a business that entailed encouraging victims to invest in Hedge bit Coin with a false promise of huge returns.

Seoul authorities estimate that Ma was able to swindle 37 billion Korean won or US$32 million from his victims.

This is not the first time that a Korean fugitive was arrested here. Several big names on the Korean “most wanted” list were found to have been hiding here, continuing their crimes.

This is why Korea has an established police desk here with a Korean police officer heading it.

There are 6 Korean desks nationwide, including one in Angeles City, Pampanga, where Koreans are provided specialized security by the combined forces of embassy officials and community representatives. (READ: Koreans and crime in Angeles City) – Rappler.com

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Lian Buan

Lian Buan covers justice and corruption for Rappler. She is interested in decisions, pleadings, audits, contracts, and other documents that establish a trail. If you have leads, email lian.buan@rappler.com or tweet @lianbuan.