6 South Koreans Arrested for Crypto Scam & Larceny

Manila, Philippines has witnessed significant law enforcement actions as local authorities have successfully apprehended six South Koreans involved in a cryptocurrency investment scam and larceny. These arrests mark a major step in combating such illegal activities and safeguarding the interests of the local community.

Uncovering the Cryptocurrency Scam and Larceny Operations by South Koreans

Arrest of South Koreans in Alabang

In a remarkable operation, Bureau of Immigration (BI) Commissioner Joel Anthony Viado reported that on Saturday, November 16, Ha Doogyun, 25; Kin Jung Ho, 25; Lee Sunyeob, 25; Kim Taemin, 26; Yun Songwook, 22; and Park Sukil, 57, were arrested during a raid at their residence in Alabang, Muntinlupa City. Authorities alleged that they were operating a large-scale fraud syndicate through a bogus cryptocurrency website. Since 2023, this scheme has lured hundreds of victims into investing over four billion won, approximately 2.9 million US dollars, in fraudulent investment projects. These individuals are now facing serious criminal charges and are being held at the BI warden facility in Camp Bagong Diwa, Taguig City as they await deportation proceedings.

Arrest of Park Sukil for Larceny

On Friday, November 15, at the Newport Mall in Pasay City, the BI arrested Park Sukil for larceny. He is wanted for stealing construction materials worth more than 2.2 million won, roughly 1,576 US dollars. It was revealed that Park had been previously ordered deported in February 2015 for being classified as an undesirable alien. His arrest further highlights the efforts of local authorities to address various criminal activities.

Interpol Red Notices and Court Warrants

The Koreans are not only facing local criminal charges but are also subjects of red notices issued by the Interpol after they were criminally charged for fraud before the Seoul district court. A warrant of arrest for them was issued by the same court on September 14 this year. This shows the international reach and seriousness of the case, as authorities are working together to ensure justice is served and these individuals are brought to justice.