China Extradites Suspect in $41.75 Million Financial Fraud from Thailand

Last Friday, with the assistance of the Chinese Embassy in Thailand and Thai law enforcement, Chinese public security authorities extradited a suspect involved in a significant financial crime. The suspect was accused of illegally absorbing public deposits, totaling 300 million yuan (approximately $41.75 million). This announcement was made by China’s Ministry of Public Security on Tuesday.

The suspect, identified by the surname Li, employed deceptive tactics to solicit funds. He fabricated claims about his company's financial strength, performance, and plans for a stock market listing. Using "business expansion" as a cover, he offered high interest rates to attract investors. Through these means, Li illegally raised over 300 million yuan from more than 800 individuals. Following the exposure of his scheme, Li fled the country.

After Li's escape, Chinese authorities initiated efforts to apprehend him and recover the stolen funds. In September 2023, the Suiyang People’s Procuratorate in Shangqiu, Henan Province, approved Li's arrest on charges of illegally absorbing public deposits. An Interpol Red Notice was issued against him in October 2024. Subsequently, in June 2025, Thai authorities arrested Li and, in accordance with legal procedures, approved his extradition to China.

An official from China’s Ministry of Public Security highlighted that Li’s extradition reflects the strengthening of law enforcement and judicial cooperation, as well as the growing mutual trust between China and Thailand. This case serves as an example of China's commitment to protecting citizens' assets and upholding the rule of law. It also provides a positive model for future law enforcement collaborations between China and other nations.