Thai Immigration Police, working in coordination with public security authorities in China’s Gansu province, have detained Chinese national Mr. Zhongwei, who is wanted in connection with a major cross-border investment fraud case. The arrest followed intelligence-led tracking that located the suspect in Thailand.
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Authorities confirmed the detention was carried out under cooperation between the Immigration Bureau and Chinese law enforcement agencies. Investigators said Mr. ZHongwei was part of a group that allegedly operated the unauthorised “Zhong-Jing commodity trading platform” between November 2020 and April 2024.
The platform reportedly claimed to link its price charts with real futures market data to appear legitimate, while using false advertising and so-called “teacher lecturers” to attract investors. The scheme is alleged to have involved more than 22,000 victims, causing losses exceeding 500 million yuan.
Authorities also said the suspect and associates gained illicit profits of over 50 million yuan. According to the investigation by public security authorities in Lanzhou, Gansu, Mr. Zhongwei fled from Shanghai Pudong International Airport on 31 May 2024 before a formal arrest warrant was issued by the Lanzhou People’s Procuratorate on 24 July 2024.
He and 21 associates were later charged with “illegal business operation” for running the scheme without regulatory approval or financial licences. Officials said the operation highlights strengthened cooperation between Thai and Chinese authorities in tackling transnational financial crime and locating fugitives who attempt to use Thailand as a hideout.
Thaitabloid reported that Mr. Zhongwei is now in custody in Thailand, with authorities preparing legal procedures for his repatriation to China to face prosecution under the ongoing investigation.
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Adapted by ASEAN Now Thaitabloid 23 May 2026