Thai Immigration Arrest Chinese Man For Bt600 Million Embezzlement

[webfact]

Chinese man arrested for alleged Bt600 million embezzlement

BANGKOK: -- Thai immigration police on Wednesday arrested a Chinese national accused of embezzling Bt600 million (115 million yuan or over US$18 million) from a listed real estate company in China before fleeing to Thailand in 2009.

Xin Yong Feng, 40, was arrested at his home in Bangkok’s southeastern suburban Prawet district after the Chinese authorities had provided information on the suspect to Thai immigration police.

According to the police, Mr Xin illegally entered the country in April 2009 and has stayed here since then. Before fleeing to the kingdom, he and 11 accomplices submitted fake Chinese government bonds to the stock market in order to borrow $18 million by claiming to invest in the real estate business in September 2008.

After receiving the cash, they divided and distributed money among themselves. However, his accomplices were detained at Weihai in Shandong province while Mr Xin escaped to Thailand with Bt25 million (more than $757,000) from the embezzlement.

In Thailand, the detainee used counterfeit official documents including an identity card, a Thai passport and a university degree, as well as using another person’s identify, the name of a Somsak Pongvichai.

Apart from bringing the cash, he received other Bt10 million (some $303,000) via bank transfer.

He later set up a real estate company in Thailand as assets for living and hiding permanently in the country.

Initially, Thai police charged the Chinese man with illegally entering Thailand and forging the official documents while the Chinese authorities charged him with embezzling from a Chinese listed company. (MCOT online news)

-- TNA 2010-09-08

[Boater]

Any clues on what his real estate company was ??

[Pib]

I expect some folks within Thailand made some nice profits helping this individual setup his new (but brief) life in Thailand.

[sirchai]

Any clues on what his real estate company was ??

After receiving the cash, they divided and distributed money among themselves.

It was the " Selfish Communist No Trust Company.":jap:

[TheBarbarian]

Those Chinese embezzlers seem to know their trade very well. They are not so smart though in getting away with the loot or staying out of the hands of the police. Businessmen do get passports and visas. If they would flee to europe they will be surely receiving a relatively low jail sentence but they will never be send back to China because they risk being executed. So I am wondering why all those idiots are taking the risk to stay in a China friendly country with the guillotine hanging above their heads.

[johnefallis]

They probably stay here because $757,000 is not much money in Europe?

[chuang]

So I am wondering why all those idiots are taking the risk to stay in a China friendly country with the guillotine hanging above their heads.

Well thailand is a well-known haven for criminals and paedophile...

[sedeflonga]

Should this crook get extradited he will be executed. Embezzlement is one of over 30 non-violent

crimes where the Chinese government executed people at will. Not a bright guy, it seems.

He should have read which country doesn't have an extradition thready with Thailand, like

most European countries before he runs away.

Extradition Treaty Countries (update 13July 2010): Currently the following countries entered into extradition treaties with Thailand:

Australia, Bangladesh, Belgium, Cambodia, Canada, China, Fiji, Indonesia, Laos, Malaysia, Philippines, South Korea, United Kingdom, and United States.

Do your homework before you crook around! :jap:

EDIT: adding extradition countries

[Thai at Heart]

Those Chinese embezzlers seem to know their trade very well. They are not so smart though in getting away with the loot or staying out of the hands of the police. Businessmen do get passports and visas. If they would flee to europe they will be surely receiving a relatively low jail sentence but they will never be send back to China because they risk being executed. So I am wondering why all those idiots are taking the risk to stay in a China friendly country with the guillotine hanging above their heads.

Umm let me think......

Normally you can bribe your way out of these things and Chinese people tend to blend in quite well with the local population. Plus, that amount of money can buy you love for "long time maak maak".

[jcicero]

So I am wondering why all those idiots are taking the risk to stay in a China friendly country with the guillotine hanging above their heads.

Well thailand is a well-known haven for criminals and paedophile...

Amnesty immediately comes to mind. The terrorists get amnesty, the politicians get amnesty, the police get amnesty, all the others who have embezzled money got amnesty, so I guess that is what he will get too.....especially if he has that much money to offer them.

[rotary]

Thats right!!! That why banks charge 150 baht intl transfer fee's at ATMs. If thats not crooked what is?

So I am wondering why all those idiots are taking the risk to stay in a China friendly country with the guillotine hanging above their heads.

Well thailand is a well-known haven for criminals and paedophile...

[Bagwan]

So I am wondering why all those idiots are taking the risk to stay in a China friendly country with the guillotine hanging above their heads.

Well thailand is a well-known haven for criminals and paedophile...

Especially if you ar e Thai. 

[LaoPo]

He should have read which country doesn't have an extradition thready with Thailand, like

most European countries before he runs away.

Chinese can get a 14-day visa upon arrival in Thailand.

But, there's no way he could have had an easy visa for any European country apart maybe from Russia. One has to have contacts/relatives or business associates to get a visa for a Europen country (Schengen countries or UK).

Not so easy as for Thailand for a Chinese.

LaoPo

[sirchai]

He should have read which country doesn't have an extradition thready with Thailand, like

most European countries before he runs away.

Chinese can get a 14-day visa upon arrival in Thailand.

But, there's no way he could have had an easy visa for any European country apart maybe from Russia. One has to have contacts/relatives or business associates to get a visa for a Europen country (Schengen countries or UK).

Not so easy as for Thailand for a Chinese.

LaoPo

Please consider countries like Romania, Poland, Slovenia and some others. Money makes the world go around. Easy for a Chinese.....:jap:

[indothai]

Ok.. so the Thai's are going to ream him for every penny he has in the country... then deport him back to China where he/they will be executed by China laws.

[sirchai]

So I am wondering why all those idiots are taking the risk to stay in a China friendly country with the guillotine hanging above their heads.

Well thailand is a well-known haven for criminals and paedophile...

Especially if you ar e Thai.

Especially a well- known haven for Thai criminals, pedophiles, Thaksins and other unwanted people.........

[asiawatcher]

He should have read which country doesn't have an extradition thready with Thailand, like

most European countries before he runs away.

Chinese can get a 14-day visa upon arrival in Thailand.

But, there's no way he could have had an easy visa for any European country apart maybe from Russia. One has to have contacts/relatives or business associates to get a visa for a Europen country (Schengen countries or UK).

Not so easy as for Thailand for a Chinese.

LaoPo

Please consider countries like Romania, Poland, Slovenia and some others. Money makes the world go around. Easy for a Chinese.....:jap:

Or Montenegro!

[contemplating]

Its nice that all these foreign criminals are being caught, but how many Thai's are also involved? From ATM robberies to pedos, there always has to be a Thai involved. These criminals just dont come into Thailand to commit their crimes, without the help of one or more Thai, that know the lay of the land. Without these people, there would be much less crime by forigners.

[chantorn]

Any clues on what his real estate company was ??

I hope it is not LH, NOBLE, SIRI, AP, etc.

[Beetlejuice]

The equivalent of 600 million baht stolen from China.

Once he has bought himself out of a death sentence, the man will probably be given a 400 year jail sentence and maybe only serve half that time with good behaviour.

[wintermute]

Ok.. so the Thai's are going to ream him for every penny he has in the country... then deport him back to China where he/they will be executed by China laws.

Thais aren't going to touch a red cent because the Chinese govt knows the exact amount missing and will pressure all the Thai politicos up top if any of it winds up disappearing. These aren't farang Thais are dealing with but the Chi-com government and they know not to mess with those people.

If it was some guy from Belgium or whatever then i'm sure 80% would "disappear" in the evidence room or whatever.

[sausageandmash]

This guy has all the right qualifications to be a Thai politician.

Any clues on what his real estate company was ??