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Fugitive Korean nabbed for P3-B investment scam

The Criminal Investigation and Detection Group's Anti-Transnational Crime Unit arrested Tuesday evening a fugitive South Korean accused of engaging in an investment scheme in his country.

Suspect Oh Seung Jo, 51, was arrested in a hotel in Muntinlupa City. He is a subject of an Interpol red notice.

Initial information showed that in 2015, the suspect established his company Ticket Life Co. Ltd. where he appointed himself chief executive officer.

Oh allegedly engaged in an investment scheme and promised a two-percent interest per month

He was able to stash 72,342,690,529 Korean Won or P3 billion from numerous Korean victims.??

Oh fled to the Philippines in 2016 and continued his illegal activity. He used different names and transferred from different hotels until he was arrested.

He will be turned over to Bureau of Immigration for deportation proceedings. —NB, GMA News

Tags: cidg, ohseung