PATTAYA — A former Chinese bank executive, Mr. Wang, 49, has been arrested at a beach resort in Pattaya, Thailand, for allegedly orchestrating a $6 million loan fraud in China. The arrest, announced by immigration officials on Friday, follows a two-month manhunt after Wang reportedly fled to Thailand via Cambodia.
Thai police apprehended Wang in his Pattaya hotel room on October 25, based on a tip-off from the Chinese Embassy. Authorities discovered approximately $5,000 in cash in his possession. According to Col. Naphatphong Khositsuriyanee of Chonburi Immigration Police, Wang is accused of forging documents to fraudulently secure loans totaling 45 million yuan ($6.3 million) while serving as a deputy manager at a bank in Hebei province, China.
“The suspect confessed to entering Thailand illegally through the Cambodian border,” stated Khositsuriyanee, adding that Wang claimed he committed the fraud to settle personal debts.
An arrest warrant had been issued by Chinese authorities, charging Wang with fraud and document forgery. Following his capture, local police in Pattaya are managing the case, with deportation proceedings anticipated soon.