A Korean national wanted in South Korea for large-scale fraud amounting to over P400 million was arrested Friday morning by agents of the Bureau of Immigration (BI) in Pasay City.
The fugitive, identified as Nam Sungjin, 53, was taken into custody by the BI’s Fugitive Search Unit (FSU) headed by Rendel Ryan Sy at around 8:00 a.m. following close coordination with the Supreme Prosecutors’ Office of the Republic of Korea and the Philippine Air Force.
Nam is the subject of an arrest warrant issued by the Changwon District Court, Miryang Branch in South Korea in 2024 for violating Article 347-(1) of the Korean Criminal Act, which covers fraud.
“Foreign fugitives attempting to use the Philippines as a safe haven will be located and deported,” the BI said.
Sy said an official report from Korean authorities stated that Nam allegedly posed as a legitimate businessman operating enterprises in both Korea and the Philippines.
Based on this deception, a victim reportedly transferred more than ?400 million to his bank account in 2022 as a financial investment. The suspect allegedly used the funds to pay off personal debts instead of investing them.
The BI said Nam will be committed to the Bureau’s Warden Facility in Taguig City following standard booking and documentation procedures. Deportation proceedings will follow.
