Korean Fugitive Arrested In Muntinlupa City

CAMP DIEGO SILANG, La Union – Joint operatives of the Criminal Investigation and Detection Group (CIDG) and the Bureau of Immigration (BI) have arrested last April 18 a South Korean fugitive facing life imprisonment for large- scale swindling in his country.

Superintendent Richard Verceles, officer-in-charge of CIDG Major Crimes Investigation Unit in Camp Crame, said that the Korean national, identified as Oh Seung Jo, was nabbed inside Acacia Hotel at 5400 East Asia Drive corner Commerce Avenue, Corporate City, Alabang, Muntinlupa City.

Verceles, former CIDG deputy chief in the Ilocos Region, said the Philippine police operation that bagged Oh Seung Jo was made with the Interpol or International Criminal Police Organization that issued a Red Notice and BI arrest order against the fugitive.

“Oh Seung Jo is wanted by the Korean government for violating Korean’s Law on regulating of conducting fund-raising business without permission. He established in 2015 a company, Ticket Life Co. Ltd, and appointed himself as the Chief Executive Officer and engaged in an investment scheme where he offered a 2 percent annual interest,” Verceles said.

Reports showed that from July 25 to October 13, 2015, Seung Jo received 1.5-billion Korean won from investors and from August 1 to December 2015, he again collected from other victims the amount of 70,845,054,529 (7.8B) Korean won or equivalent to P3-billion.

“He fled to the Philippine and continues his nefarious activity until he was arrested,” Verceles said. He did not say whether Filipinos invested in the fraudulent scheme.

Meanwhile, Vercelles expressed appreciation for the people and local government units in the Ilocos of Region for the support extended to him during his 22- month incumbency at the CIDG here. JUN ELIAS/NPN – northboundasia.com