Philippines To Deport Escapees For $33 Million Scam

News
Thu, 10/04/2018 - 15:35
Paul Hackley
Two foreign citizens were arrested in operations conducted by the Philippines Immigration Bureau’s fugitive search unit (FSU). They will be deported for defrauding
Cover image via U.Today

Two foreign citizens were arrested in operations conducted by the Philippines Immigration Bureau’s fugitive search unit (FSU). The two will be deported for defrauding South Korean investors of more than $33 mln in a Bitcoin pyramid scam.

Promising huge returns in no time, the scam sold non-existent Bitcoins to investors. The two in charge of it, one a citizen of South Korea and the other of China, had their passports already revoked by their governments.

“We reiterate our warning to all foreign criminals who are hiding in the country that the long arm of the law will eventually catch you and we will send you back to your homelands,” the Immigration Bureau chief said.

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About the author

Paul Hackley is a journalist and essayist, focusing on blockchain and cryptocurrencies, with a strong interest in the future of the technology.

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