First Extradition Under China-Thailand Treaty: Suspect Returned for $14B Crypto Scam

tldr; A suspect named Zhang, identified as Zhang Yufa or Tedy Teow Wooi Huat, founder of MBI Group, has been extradited from Thailand to China under the China-Thailand treaty for allegedly leading a $14 billion crypto pyramid scheme. This marks the first financial criminal extradition under the treaty since 1999. Teow is accused of defrauding millions by enticing them to buy MBI’s unauthorized crypto, leading to his arrest in Thailand in July 2022 after fleeing Malaysia. His extradition is seen as a precedent for future cooperation between China and other nations on extraditions.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.