Greek Police Detain Chinese Man Over €3.6B Fraud Case

Greek police (file photo)

Police in Athens detained a Chinese man on an international arrest warrant on Wednesday as he is suspected of committing an estimated €3.6 billion ($4.2 billion) fraud.

The man was arrested in the Alimos neighborhood, after Chinese authorities had issued an international warrant for him. He had reportedly set up an electronic platform offering financial services to fellow Chinese nationals.

Specifically, the 41-year-old man is accused of fleecing fellow Chinese of an estimated total of €3.6 billion of their savings, promising them financial investments that would yield them annual returns of 20 to 40 percent.

The man will be taken to a prosecutor and extradited to China.