TLDR:
- Zhang Moumou, leader of a massive crypto pyramid scheme, extradited from Thailand to China
- First economic crime suspect extradited from Thailand to China since 1999 treaty
- MBI Group scheme involved over 10 million people and 100 billion yuan ($14 billion)
- Zhang arrested in Thailand in 2022 after fleeing China in 2020
- Extradition marks milestone in China-Thailand law enforcement cooperation
On August 20, 2024, Zhang Moumou, the mastermind behind a massive cryptocurrency pyramid scheme, was extradited from Thailand to China.
This marks the first time China has successfully extradited an economic crime suspect from Thailand since the two countries signed the China-Thailand Extradition Treaty in 1999.
Zhang, who had been on the run since 2020, was the head of the MBI Group, a criminal organization that had been operating a sophisticated online pyramid scheme since 2012.
The group lured victims by issuing virtual digital currency and promising high returns on investment.
The scheme required participants to pay fees ranging from 700 to 245,000 yuan ($98 to $34,316) to join the platform.
Earnings were tied to the recruitment of new members and the amount of funds invested. Over time, the scheme ensnared more than 10 million people, with the total funds involved exceeding 100 billion yuan ($14 billion).
In November 2020, the Chongqing Municipal Public Security Bureau formally filed a case against Zhang. By March 2021, the Interpol China National Central Bureau had issued a red notice for his arrest. Zhang was finally captured by Thai police on July 21, 2022, following an extensive international manhunt.
The extradition process, however, was not straightforward. China’s request for Zhang’s extradition was made in accordance with the bilateral treaty between China and Thailand.
On May 21, 2024, the Thai Court of Appeal issued a final ruling in favor of extradition. The Thai government subsequently confirmed this decision on August 14, setting the stage for Zhang’s return to China just days later.
This operation was the result of coordinated efforts between China’s Ministry of Public Security, the Chinese Embassy in Thailand, and Thai law enforcement agencies. It was carried out under the banner of the Ministry’s “Fox Hunting Operation,” which aims to apprehend economic crime suspects who have fled overseas.
A spokesperson for the “Fox Hunt Operation” office stated that the successful extradition of Zhang demonstrates the Chinese government’s firm determination to protect citizens’ rights and uphold the law.
They added that it marks a significant milestone in China-Thailand law enforcement and judicial cooperation, which could serve as a positive example for future extradition cases between China and other countries.
