Immigration authorities in the Philippines are readying deportation proceedings against a South Korean national suspected of involvement in scamming a group of investors worth nearly $33 million in Bitcoin in an illegal cryptocurrency scheme.

Bureau of Immigration (BI) Commissioner Jaime Morente told reporters on Monday that the South Korean fugitive identified as Go Yongsung, 48 years old, is believed to be responsible for a Bitcoin pyramid scheme in Seoul and was able to raise about $33 million from his unsuspecting clients.

He fled South Korea before authorities could arrest him because of his illegal cryptocurrency scheme, it was learned. Yongsung was arrested by Philippine immig…

This article appeared first on Cryptovest

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