A Chinese man wanted in China over an alleged investment fraud involving more than 200 people and losses of about 500 million baht has been arrested in Pattaya.
Immigration police arrested the man, identified as Yin, on Tuesday. Police said he allegedly persuaded victims to invest by guaranteeing their principal and offering annual interest of 6.2%. More than 200 people reportedly invested about 100 million yuan, or roughly 500 million baht, before Yin fled to Thailand.
Police initially traced Yin to northeastern Thailand, where he allegedly changed accommodation frequently before moving to a village in Chon Buri.
Immigration police have revoked his permission to stay in Thailand.