PATTAYA — A former Chinese bank executive accused of orchestrating a $6 million loan fraud has been arrested at a Thai beach resort after a two-month manhunt, immigration officials said Friday.
Mr. Wang, 49, was apprehended in his hotel room in Pattaya om October 25, following a tip-off from the Chinese Embassy in Thailand. He was found with approximately $5,000 in cash.
According to Col. Naphatphong Khositsuriyanee of the Chonburi Immigration Police, Wang allegedly forged documents to fraudulently obtain loans worth 45 million yuan ($6.3 million) while serving as deputy manager at a bank in China’s Hebei province.
“The suspect confessed to entering Thailand illegally through the Cambodian border,” Khositsuriyanee said. “He claims the fraud was committed to settle personal debts.”
Chinese authorities had issued an arrest warrant for Wang on charges of fraud and document forgery. He had been hiding in Thailand for approximately two months before his capture.
Local police in Pattaya are now handling the case, with deportation proceedings expected to follow.
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