China extradites suspect of 100-billion-yuan financial crime from Thailand

BEIJING - Chinese law enforcement agencies extradited a suspect from Thailand on Tuesday in connection with a major financial criminal case involving more than 100 billion yuan ($14 billion), China's Ministry of Public Security announced Friday.

The man surnamed Zhang is the first financial criminal suspect extradited to China from Thailand since the two countries' extradition treaty took effect in 1999, according to the ministry.

Zhang was discovered to have led a pyramid scam operation under the guise of issuing virtual currency since 2012. The public security organ of Chongqing municipality launched an investigation into Zhang in 2020, and an Interpol Red Notice was issued in March 2021.

Zhang was captured by Thai police in 2022, and was ordered to be extradited to China following a sentence made by Thailand's Appeals Court in May of this year, a decision later supported by the Thai government.