Authorities nab Korean wanted for $100-million fraud

MANILA, Philippines — Philippine authorities have arrested a Korean fugitive wanted for defrauding his countrymen of $100 million.

On Tuesday afternoon, agents of the Bureau of Immigration Fugitive Search Unit arrested 51-year-old Chun Taejoon in Quezon City.

Chun has a standing arrest warrant in the Eastern District Court of Seoul issued on Oct. 13, 2005.

He is wanted in the Korean courts for large scale fraud, for duping 10,000 people into paying for a construction investment that turned out to be a scam.

Former Consul and Police Attache Hong Dukki of the Embassy of Republic of Korea sent a communiqué to the Philippine government informing of the pending case of Chun.

The Korean's passport has also expired on June 3, 2009, and he has since been an undocumented alien hiding in the Philippines. 

Chun is currently being detained at the Immigration's warden facility.

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