SFU, Chinese govt arrest Chinese fugitive over N105m fraud

Ogunsakin

Juliana Francis

 The Special Fraud Unit (SFU) has assisted the Chinese Government in arresting a Chinese fugitive who ran to hide in Nigeria after defrauding some of his countrymen of money running to millions.

 The Chinese lawyer has been named as Mr. Fang Yang, 50. Incidentally, Yang was not the only one who committed the crime. His partner in crime, who is said to be the main suspect, is one Leng Jiqing. Jiquing was arrested and sentenced to life imprisonment in China while Yang ran to Nigeria.

 Yang was apprehended at Golden Silk Ovic, Ogun State after three weeks of chase.  The chase after Yang begun after SFU on August, 28, 2013, received a petition from the Chinese Government, through its Consulate in Nigeria, asking for collaboration to arrest a fugitive who ran away from the shores of China to Nigeria.

The Commissioner of Police, in charge of SFU, Mr. Tunde Ogunsakin, explained that the Chinese government complained through the letter that Yang and Jiqing, former Legal Representative of Qingdao Sifang Qiaolian Trade Co. Beijin, were wanted for 8million Yen loan syndicated through a fake bank deposit receipt in 1996 to get a mortgage from second Sub Branch of China Agricultural Bank of Qingdao.

After the bill was discounted, the majority of the money was paid for the debts of their company and balance spent for the daily expenses of the company, while only 1.55million RMB was paid back to Licang second Sub-Branch of Qingdao Branch of China Agricultural Bank.  This led to a loss of 6.45million RMB to the bank.

Yang, an old Chinese businessman who came to Nigeria in 2001, told SFU detectives that he committed the crime. He said that he joined a company named Si Fang Qiao Lian in China as a Deputy Manager, adding that the MD of the company gave him two fixed deposits draft with his name on one and the name of Branch Manager on the other. 

The MD instructed him to take the cheques to a Bank named Li, Lang Nong Ye Yi Hong. 

According to him, the cheques were used to obtain loan from the bank and that they could not pay back the loan. 

He stated further that the case was taken to court in China and that the sum of 1.8million Yen was paid back to the bank while the remaining balance was unpaid. 

He then relocated to Nigeria to start his own business and new life. 

After interrogation, the suspect confirmed to the crime and his readiness to pay back the remaining sum of 4million Yen which is an equivalent of N105,000,000.00 (One Hundred and Five Million Naira Only) in Dollar denomination of $644,171 and the money has been recovered.

Ogunsakin said: “The Unit hereby hand-over the sum of $644,171 being amount recovered for the unpaid loan obtained from 2^nd Sub Branch of China Agricultural Bank of Qingdao to the Nigerian Chinese Embassy for onward transfer/delivery to the Chinese authorities. I use this medium to advise criminals who commit crimes outside the shores of this country that Nigeria is not a hiding place for them and that the Police will always fish them out.”