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Fraud mastermind taken back
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CHINESE police have brought back from South America the alleged mastermind of a fraud scheme that earned 500 million yuan ($60 million), the People's Daily reported on Monday.
The newspaper said Qian Hong, a male in his 30s, had been on the run since 1993 after having plastic surgery but did not name the country where he was found or specify how he was returned home.
Police accuse Qian of using an illegal processing company and the promise of favourable exchange rates to swindle advance payments from 48 Shanghai manufacturers.
“He wantonly squandered the money, whether by blowing more than 100 million yuan gambling in Macao and elsewhere, or by buying gold and silver jewellery, brand-name watches, luxury cars, or high-class apartments,” the People's Daily said.
Further details of the case against Qian were not immediately available but the People's Daily said that he was the 98th fugitive to be caught since China formed a special unit in 1998 to hunt down suspects abroad.
His arrest comes in the midst of a high-profile fight against economic crime and corruption.
China is trying to extradite from Canada one of China's most wanted men, Lai Changxing, who is seeking political asylum.
Lai has been linked to a US$6 billion smuggling scandal based around the eastern port of Xiamen, in which at least 14 officials have been sentenced to death.(SD-Agencies)
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