Chinese involved in investment scam arrested at Manila airport
THE BUREAU of Immigration has intercepted a Chinese fugitive allegedly involved in a big-time pyramid investment scheme in China at the Ninoy Aquino International Airport (NAIA) in Manila.
The 56-year-old Chinese identified as Yao Kunmin is wanted by authorities in Beijing for his alleged operation of an online foreign exchange investment platform from May 2019 to April 2020.
Records from Chinese officials and the Philippine Immigration agency showed that Mr. Yao entered the Philippines on Jan. 23, 2020. His arrest was only ordered by the public security bureau in Pei County, Jiangsu province eight months later.
He was intercepted by immigration officers at NAIA on July 21 when he boarded a flight to Wuxi, China.
“Upon interception, the BI Interpol operatives immediately coordinated with our counterparts in China to alert them of the arrival of the fugitive,” Immigration Port Operations chief Carlos B. Capulong said.
Mr. Yao was immediately arrested by Chinese policemen upon arrival at the Wuxi airport.
Through the investment platform, Mr. Yao allegedly lured people to put money in a pyramid investment scheme wherein he promised large profits.
He was said to have collected over 12 million Renminbi or around P93.5 million from the scheme.
“This interception shows our strong coordination and cooperation with our foreign counterparts,” Immigration Commissioner Jaime H. Morente said in a news release on Thursday. — Bianca Angelica D. Añago