The Bureau of Immigration (BI) announced on Monday the arrest of a high-value fugitive wanted for an investment fraud scheme in South Korea.

BI Commissioner Atty. Joel Anthony Viado identified the fugitive as Chu Hoyong, who was arrested on 13 February at his residence in Makati City by BI Fugitive Search Unit (BI-FSU) operatives.

Viado explained that Chu was apprehended under a mission order he issued at the request of the South Korean government, which reported his presence and illegal activities in their country.

“Aside from investment schemes, we were also informed that he is involved in telecommunications fraud, which he possibly operated while staying in the country,” Viado said.

He added that Chu is the subject of two arrest warrants issued by Korean courts after being indicted for fraudulent schemes that victimized numerous compatriots.

The BI chief also disclosed that Chu’s deportation is a top priority of the Bureau, and his name will be placed on a BI blacklist prohibiting him from entering the country again.

Meantime, BI-FSU chief Rendel Ryan Sy said the Bukbu District Court in Seoul issued an arrest warrant for Chu on 12 April 2022. He was charged with fraud for allegedly using worthless collateral to secure loans, causing victims losses totaling 2.26 billion won or approximately US$1.4 million.