A KOREAN trader wanted by authorities in Seoul for economic crimes was arrested by immigration officers at the Ninoy Aquino International Airport.
Immigration Commissioner Norman Tansingco said Ahn Youngyong, 54, was intercepted at the NAIA Terminal 1 last June 23 as he was about to board a Philippine Airlines flight to Shanghai, China.
“He was not allowed to leave and was instead arrested after his name prompted a hit in our derogatory check system indicating that he is a wanted fugitive in his country,” Tansingco said.
Ahn is detained at the BI detention facility in Bicutan, Taguig City where he will remain while awaiting deportation.
BI records showed that Ahn was placed on the agency’s watchlist after he was charged with a deportation case for being an undesirable alien, which stemmed from a criminal case filed against him in Korea.
Tansingco said the Korean Embassy in Manila informed the BI that a warrant for Ahn’s arrest was issued by the Seoul eastern district court on April 1 this year for violating the prohibition on marketing disturbances.
Korean authorities, according to Tansingco, alleged that between February and September 2018, Ahn disseminated false information on capital investment, joint development and sales of immune-anti-cancer drugs, completion of technology transfer, and by a US bio-company.
The action, the Korean authorities said, caused the share price of the drug in the Korean stock market to rise tremendously, enabling its manufacturer to gain unfair profit of more than 63.1 billion won, or almost $44 million.
