50-year-old Chinese fugitive Fang Yang, was arrested by the Special Fraud Unit(SFU) of the Nigeria Police, Ikoyi, Lagos State for his involvement in a N105m fraud.
According to the SFU Commissioner of Police, Mr Tunde Ogunsakin, the fraud was perpetrated when Yang was a Deputy Manager with Si Fang Qiao Lian Company in China.
According to the SFU Commissioner of Police, Mr Tunde Ogunsakin, the fraud was perpetrated when Yang was a Deputy Manager with Si Fang Qiao Lian Company in China.
“The Chinese government through its consulate in Nigeria contacted the SFU on August 28, 2013, concerning a fugitive, Fang Yang, who ran away from China to Nigeria.
“Yang, a former legal representative of Qingdao Sifang Qiaolian Trade Co.Bejin, was wanted for an 8m Chinese Yen loan.
“The loan was syndicated through a fake bank deposit receipt to get a mortgage from the 2nd Sub Branch of China Agricultural Bank of Qingdao.”
The Nigerian Police in collaboration with the Chinese authorities arrested Yang three weeks ago at Golden Silk Ovic, Ogun State, where he has been living since 2001.
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