BI arrests two South Koreans in multi-million dollar investment scams
The Bureau of Immigration (BI) in Paranaque City arrested two South Korean nationals, Kim Young Sam and Weon Cheolyong, who are wanted for their alleged involvement in multi-million-dollar investment scams.
Kim Young Sam, 58, and Weon Cheolyong, 59, were apprehended during a raid at BF Homes Village on April 22.
As manager of a Seoul-based company, Kim allegedly defrauded over 3 billion won from 253 victims through fraudulent cryptocurrency investments.
Weon Cheolyong faces charges in Korea for multiple instances of investment fraud that resulted in losses exceeding 17 million pesos.
Kim was ordered expelled by the BI board of commissioners in December 2021 and is subject to an Interpol red notice, while Weon is an overstaying alien facing deportation proceedings.
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