You're welcome: BI tips off China authorities on incoming fugitive behind online pyramiding scam

Published July 29, 2021, 4:44 PM

by Jun Ramirez

The Bureau of Immigration (BI) recently intercepted at the Ninoy Aquino International Airport (NAIA) a Chinese national wanted by his government over a large-scale, Internet-based pyramiding investment racket.

(Photo by Glenn Carstens Peters/ Unsplash)

BI Commissioner Jaime Morente said 56-year-ol Yao Kunming was about to board his flight to Wuxi, China at the Pasay City airport last July 21 when an alert immigration officer noticed the inclusion of the foreigner’s name on the BI Interpol database of wanted criminals.

The BI Interpol officers quickly relayed the information to their Chinese counterparts, who arrested Yao upon his arrival in Wuxi.

Records showed that Yao set up in 2019 an investment platform on the Internet, which lured unsuspecting compatriots to his pyramiding racket.

The victims were promised huge returns on their investments. Yao ended up amassing 12 million Renminbi, or roughly US$1.8 million.

He then fled to Manila on Jan. 23, 2020 before the public security bureau of Jiangsu Province could order his arrest for economic crimes.

“The interception of the fugitive shows our strong connection with our foreign counterparts in arresting fugitives,” said Morente. (With reports from Ariel Fernandez)

 
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