Chinese fugitive wanted for alleged investment scam arrested in Thailand

A Chinese fugitive wanted over an alleged investment scam was arrested at a luxury condominium in Thailand.

Zhang, 39, reportedly caused more than one billion yuan in financial damages as he ran a massive Ponzi scheme in China.

He fled to Thailand to evade arrest before immigration officers tracked him down to a condominium in seaside resort Pattaya, on October 12.

Footage shows cops detaining the Chinese suspect, who was said to have been living the high life at the luxury property.

Zhang's permission to stay in Thailand was revoked before he was taken into custody and transferred to the Immigration Bureau's Investigation Division for further legal proceedings.

Police Major Churinchat Sota of the Immigration Bureau said the raid followed a directive from Immigration Bureau Commissioner Police Lieutenant General Noppasil Poolsawat to crack down on foreign fugitives and transnational criminal networks operating in Thailand.

He added: 'Thailand will not be a safe haven for foreign fugitives. We will work closely with international agencies to track down and bring offenders to justice, protect public safety and ensure the law is upheld.'