BI nabs two Chinese wanted in Beijing for bank fraud

Bureau of Immigration (BI) operatives have arrested two Chinese nationals wanted by Beijing authorities for bank fraud.

BI Commissioner Jaime Morente said 43-year-old Sun Feng and Xia Yaqin, 44, were caught in Sta. Rosa, Laguna by immigration intelligence agents last Tuesday.

The duo have been hiding in the Philippines for more than 10 years after the Jiangym Municipal Public Security Bureau issued separate warrants of arrest against them.

As a former director of a state-owned bank, Sun allegedly masterminded the high interest loan racket, defrauding their victims of 145 million yuan, roughly US$ 21 million.

The BI chief said they will be deported shortly to stand trial for their alleged crimes.

He said the two Chinese are overstaying in the country as their passports have already been cancelled by the Chinese government.