The immigration police yesterday arrested a Chinese man suspected of being involved in a Bt600-million fraud case.
Chinese authorities claim Xin Yong Feng, 40, and his 10 accomplices used fake bonds to secure a loan to the tune of 115 million yuan (Bt525 million) from a public-listed company in China two years ago. Xin is the manager of a real-estate company in the mainland.
Instead of spending the loan on developing a real-estate project as earlier claimed, they divided the money and fled. In March this year, all suspects, except Xin, were caught in China.
China later alerted Thailand about Xin's relocation to Thailand, and an investigation by the Immigration Bureau revealed he was living in Bangkok under the false name of Somsak Thongwichai.
Xin has registered a company here and used many fake documents. He is now charged with forging official documents and illegal entry.