The Special
Fraud Unit, SFU, Milverton, Lagos, has arrested a Chinese Chief
Executive Officer of a manufacturing company in Ogun State over an
alleged $644,171 fraud in China.
The 50-year-old suspect,
Mr. Fang Yang, reportedly fled China to Nigeria in 2001 after his
alleged accomplice and prime suspect, Leng Jiqing was sentenced to life
imprisonment.
Briefing newsmen shortly before releasing the
suspect on bail to representatives of the Chinese government, onThursday,
Commissioner of Police in-charge of the Unit, Mr. Tunde Ogunsaki, said
that the money had been recovered from the suspect, which was handed
over to the representatives of Chinese government.
He explained
that Yang was arrested after three weeks of manhunt in Ogun State,
following a petition to the Unit by the Chinese government.
He
said they were informed that Yang and Leng Jiqing, former Legal
representative of Qingdao Sifang Qiaolian Trade Co. Beijin, were wanted
for eight million Yen loan syndicated through a fake bank deposit
receipt in 1996 to get a mortgage from the second Sub-Branch of China
Agricultural Bank of Qingdao.
However, representatives of the
Chinese government left the conference hall with the suspect before the
end of the briefing, refusing to speak with journalists.
Culled from Vanguard
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