Spain detains Chinese suspect in swindles

Spanish police said on Tuesday they have detained a Chinese man wanted for allegedly swindling 40 people in China out of about 17 million euros ($23 million) between 2009 and 2012.

The 46-year-old man, identified only by his initials Q.Z., was arrested near his home in Albacete in southeastern Spain under an international warrant issued by Chinese authorities, police said in a statement.

"The fugitive, under the pretext of running a pawnshop and a deposit company and being the director of a company, captured the public's money by offering a monthly interest rate of 5 percent," the statement said.