First criminal suspect extradited from Cyprus stands trial for massive bank fraud

Wang Guoqing, a fugitive extradited from Cyprus, stood trial for the first time at the Linfen Intermediate People's Court in Shanxi province on Wednesday, according to the court.

The court, in a news release, stated that Wang, the actual controller of several enterprises in Shanxi, has been accused by public prosecutors of forging financial statements, transaction records, purchase and sales contracts, as well as audit reports and other loan-related information to swindle significant loans from banks, causing substantial losses to the involved banks.

To evade legal responsibility, Wang fled China in February 2020 and was subsequently placed on the Interpol Red Notice list.

In November 2022, local police in Cyprus detained him, and he was returned to China the following month, marking the first criminal suspect extradited from Cyprus after the two nations signed an extradition treaty.

During the trial, Wang, along with his attorneys and the prosecutors, presented evidence, and witnesses and auditors testified.

Wang pleaded guilty and expressed regret for his wrongdoings. The court announced an adjournment, stating that it would deliver a verdict at a later date, according to the news release.