BI detains Chinese man allegedly involved in investment scam

Bureau of Immigration operatives have arrested a Chinese man wanted by Beijing for economic crimes related to a 60-million renminbi investment scam.

Chen Long, alias Chen Chenglong, was arrested in Makati City on October 30, the bureau said in a statement on Monday.

The 32-year-old Chen and an accomplice allegedly set up an unregistered investment company in Shandong province in Eastern China and “reportedly duped their victims more than 60 million RMB, or more than P400 million,” the bureau said.

The BI it has been inform by Chinese authorities about Chen’s crime, prompting the bureau to conduct a case buildup and locate the fugitive.

Chen’s passport has been cancelled, making him an undocumented foreigner, the bureau said.

He is detained at the BI facility in Bicutan, Taguig City waiting for deportation proceedings. —Nicole-Anne Lagrimas/VDS, GMA News