BY EVELYN USMAN
Special Fraud Unit, SFU, Milverton, Lagos, has arrested a Chinese Chief Executive Officer of a manufacturing company in OgunState over an alleged $644,171 Dollars 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 journalists shortly before releasing the suspect on bail to representatives of the Chinese government, yesterday, 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.