Indonesian Authorities Arrest Suspect in $14 Billion Investment Scam Wanted by China

Indonesian authorities have arrested a suspect wanted by China for allegedly running a massive investment scam valued at $14 billion. The suspect, identified only by his initials LQ, was apprehended on October 1 at Bali’s Ngurah Rai International Airport when he attempted to board a flight to Singapore.
The 39-year-old man was flagged by the airport’s biometric data system, which indicated he was wanted by Chinese authorities.

He had arrived in Bali from Singapore on September 26 using a Turkish passport under the name Joe Lin, just one day before Interpol issued a Red Notice for his arrest. This notice is a request to law enforcement agencies worldwide to detain or arrest suspects sought by specific countries.

During a press conference in Jakarta, Indonesian immigration chief Silmy Karim expressed gratitude for the technological advancements that enabled the identification and arrest of LQ. He was wrong to use Indonesia as a transit country, let alone as a destination country to hide, Karim stated.
LQ is accused of orchestrating a Ponzi scheme that defrauded over 50,000 clients in China, collecting more than 100 billion Chinese Yuan (approximately $14 billion).

The scheme has drawn significant attention due to its scale and impact on victims, prompting Chinese authorities to seek international cooperation in apprehending the suspect.
The Indonesian National Police’s international division chief, Krishna Murti, noted that the process of deciding whether to extradite LQ to China will take some time.

Authorities must first confirm whether he is indeed a Turkish citizen or if he used a fraudulent passport to enter Indonesia. Murti emphasized the importance of respecting the suspect’s rights, stating that he has not committed any violations within Indonesia.

This arrest underscores Indonesia’s ongoing efforts to combat organized crime and enhance international cooperation in addressing financial fraud. The country has become a focal point for global criminal activity due to its strategic location and diverse society, making it an attractive destination for fugitives seeking refuge.