MANZINI – Mainland Chinese authorities have formally pleaded with Eswatini not to release alleged financial crimes suspect Jin Houyun on bail.
The Chinese authorities warned that doing so could jeopardise efforts to bring him to justice over what they describe as a massive public deposits scam involving more than 8 000 victims in the East Asian country.
Houyun was arrested in Eswatini on 13 local criminal charges. These include 11 counts of fraud, one count of bribery after he allegedly attempted to offer E2 400 to an investigator, and one count of possession of dagga.
The authorities further allege that he was living in the country under an alias and was found in possession of fraudulent identity documents at the time of his arrest.
The plea is contained in an application for his provisional arrest and repatriation filed before the Manzini Magistrates Court, where the 57-year-old Chinese national is currently in custody following his arrest in the kingdom.
In their communication to Eswatini authorities, officials from NCB Beijing, the Chinese National Central Bureau of Interpol, made it clear that they want Houyun kept behind bars pending extradition proceedings.
“To prevent Jin Houyun from escaping, please DO NOT approve his bail application and keep him in custody until the completion of the repatriation,” reads part of the request submitted through diplomatic and policing channels.
The case is a follow-up to a recent Times of Eswatini report detailing the arrest of the Chinese ‘most wanted’ suspect in the country. Fresh documents now before the court outline in detail the scale of the alleged fraud and the urgency with which Beijing wants him returned.
According to the arrest warrant issued by the Chaoyang Sub-Bureau of the Beijing Municipal Public Security Bureau, Houyun is accused of illegally absorbing public deposits between January 2017 and December 2020.
Authorities allege that while serving as the legal representative and actual controller of Xiniongyuan Company, he solicited investments from members of the public without approval from financial regulators and without the legal qualifications to absorb public deposits.
Using annual returns of between eight and 10 per cent as bait, he allegedly attracted a staggering over 1.51 billion Yuan, approximately US$216 million, from unspecified groups of investors.
Chinese prosecutors allege that more than 8 000 victims suffered combined economic losses amounting to 1.28 billion Yuan (about US$183 million).
Investigators further claim that Houyun personally made illegal profits of about eight million Yuan, roughly US$1.15 million.
On May 27, 2022, the People’s Procuratorate of Chaoyang District approved his arrest on suspicion of illegally taking public deposits. A formal arrest warrant, referenced as Jing Gong Chao Po Zi (2022) 50608 was issued the same day.
Two months later, on July 15, 2022, Interpol issued a Red Notice for his arrest, numbered A-5716/7-2022.
The Red Notice effectively placed him on an international wanted list, alerting law enforcement agencies across Interpol’s 195 member States to locate and provisionally arrest him pending extradition.
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Jin Houyun (C) having a conversation with his defence team, Interpreter Pingchange Wuan and his fellow countrymen recently. (File pic)