The ministry said the suspect was sent to China on Tuesday and only gave the man’s surname: Zhang. This was a reference to Zhang Yufa, better known as Tedy Teow Wooi Huat, the founder of the business conglomerate MBI Group.
More than 10 million investors have fallen prey to the scheme since 2012, and the money involved amounted to over 100 billion yuan, according to the ministry.
Authorities in the southwest Chinese megacity of Chongqing launched an investigation into Teow in late 2020, and months later the China bureau of Interpol, the International Criminal Police Organisation, issued a worldwide wanted notice for him.
Thai police arrested the businessman in July 2022 after he fled Malaysia. Following that, Beijing submitted a request to Bangkok seeking to have him deported to stand trial in China.
A Thai court issued a final ruling to transfer Teow to China in May, a decision later supported by the Thai government.
Kuala Lumpur had also sought Teow’s deportation to Malaysia, where he is also wanted for fraud. But their request was made after China’s.
02:09
Thai Prime Minister removed from office by Constitutional court
Thai Prime Minister removed from office by Constitutional court
The Chinese government has characterised Teow’s case as “extraordinary” and expected the handover of the suspect to set a “positive example” for future extradition cooperation between China and other countries.
The foreign ministers of all six countries under the Lancang-Mekong Cooperation mechanism, which also includes Cambodia and Vietnam, reached a joint statement on strengthening cooperation in combating transnational crime during the gathering.
“We are deeply concerned about the gravity and seriousness of the persistent and escalating threats posed by transboundary crimes,” the statement said.
“We urge member countries to prioritise cooperation in the areas of anti-drug trafficking as well as curbing telecommunication/online frauds and all kinds of online gambling,” it added, calling all six nations to work together to improve information sharing and border controls.
