Manila, Sept. 30 -- Operatives of the Bureau of Immigration's (BI) Fugitive Search Unit, in coordination with South Korean authorities, recently arrested a Korean national wanted for alleged involvement in a large-scale telecommunications fraud scheme in Korea.

In a statement on Tuesday, the BI said Hong Sae-byeok, 24 was arrested in Pasay City on Sept. 25.

It added that Hong was sought by Korean authorities for telecommunications fraud and money laundering. At least 58 claimed they were duped of around 50 million won or approximately PHP2 million.

Hong is reportedly part of a fraud syndicate that converted illicit funds into pesos or cryptocurrency.

An Interpol notice confirmed that the foreigner has a standing warrant of arrest for ...