- China successfully extradited its first economic crime suspect, Zhang, from Thailand under the 1999 China-Thailand Extradition Treaty.
- Zhang, the alleged leader of a crypto pyramid scheme, defrauded over 10 million people, amassing more than $13 billion.
In a significant legal and diplomatic breakthrough, the Chinese government has successfully extradited its first economic crime suspect from Thailand. Zhang’s extradition, a linchpin figure in an enormous crypto pyramid scheme, marks a pivotal moment in bilateral relations between the two nations.
On the evening of August 20, Zhang was transferred to China after substantial coordination between domestic Chinese agencies, the Chinese Embassy in Thailand, and Thai law enforcers. Notably, this operation has been part of China’s “Fox Hunting Operation” initiative, marking the first time an economic crime suspect has been extradited from Thailand under the China-Thailand Extradition Treaty established in 1999.
China Targets Alleged Fraud Mastermind
Zhang, the alleged mastermind behind the MBI Group, has been under scrutiny for his role in orchestrating an illegal online pyramid scheme that defrauded more than 10 million participants and amassed over 13 billion USD.
The scheme, which had been in operation since 2012, enticed members with the promise of high returns in exchange for hefty membership fees ranging from 700 to 245,000 yuan. The MBI Group used these funds, along with the increasing number of members, to further the fraudulent operation.
The case against Zhang began in earnest in November 2020 when the Chongqing Municipal Public Security Bureau opened an investigation. By March 2021, Interpol China had issued a red notice for his arrest. Thai authorities apprehended Zhang on July 21, 2022.
Following his arrest, the Chinese government formally requested his extradition by the bilateral treaty. The Thai Court of Appeal upheld this request on May 21, 2024, and on August 14, the Thai government formally supported the court’s decision.
A spokesperson from the Ministry of Public Security’s “Operation Fox Hunt” Office highlighted that Zhang’s extradition underscores China’s commitment to protecting citizens’ rights and upholding the law.
This development is seen as a major milestone in enhancing China-Thailand law enforcement and judicial collaboration, setting a precedent for future international cooperation in extradition matters.
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