Two suspects wanted for illegal fundraising have been returned from Malaysia and the Philippines, two more examples of success repatriations in China's campaign to hunt fugitives hiding overseas, according to the Ministry of Public Security.
Suspect Miao allegedly collected nearly 500 million yuan (77 million U.S. dollars), without the approval of local financial authorities, from more than 3,000 investors lured by the promise of high returns via a Shanghai-based financial company between October 2013 and January 2015, the ministry said in a statement released late on Wednesday.
Having escaped to the Philippines, Miao was arrested by the Philippine police on March 9, 2016, thanks to a tipoff by the Chinese side and escorted back on March 12 by Chinese police, the statement added.
The other case, which dates back to Feb. 2015, suspect Shi partnered with others to collect "VIP fees" by claiming that his company was going to be listed in the United States and would offer high profits for members. People who had signed up were also ordered to recruit more members in a pyramid scheme.
Shi's group allegedly profited more than 10 million yuan, the statement said, adding that Shi was arrested on March 15, 2016 in Malaysia thanks to cooperation between Chinese and Malaysian police. He was escorted back the following day.
According to the ministry, economic crimes targeting the public, such as illegal fundraising, are a key focus in the hunt for fugitives who are implicated in economic crimes and hiding overseas.
It said that eight fugitives suspected of illegal fundraising and pyramid schemes have been netted since the Overseas Arresting Work Bureau was founded by the ministry in January this year to support the hunt.
