CHINA TOPIX

Kuang Wanchang: U.S. Repatriates Chinese Fugitive Accused of Defrauding Nearly $500 Million from Bank of China

Kwao Peppeh   |

Sep 24, 2015 07:40 AM EDT

United States authorities on Thursday repatriated a Chinese fugitive accused in 2004 of conspiring in a scheme to defraud China's central bank of $485 million. The deportation of Kuang Wanchang shows that both countries are steadily progressing towards establishing a formal prisoner extradition treaty.