Korean fugitive arrested at NAIA over alleged P44-M stock scam

A South Korean national, identified as Ahn Youngyong, was apprehended at NAIA while attempting to depart for Shanghai, China.

Ahn is considered a fugitive in South Korea, facing charges related to economic crimes.

The Bureau of Immigration (BI) intercepted Ahn after his name appeared on their watchlist on June 23.

The Korean embassy in Manila had previously alerted the BI about an arrest warrant issued against Ahn by the Seoul eastern district court on April 1, 2024.

The charges against Ahn involve allegedly disseminating false information about capital investment and the development and sale of immune-anti cancer drugs between February and September 2018.

These actions are alleged to have caused a significant surge in the drug's stock price on the Korean market, leading to an unfair profit of over 63.1 billion won (approximately $44 million) for its manufacturer.

Ahn is currently detained at a BI facility in Taguig City, awaiting deportation.