Chinese man arrested in southern Athens for billion-euro fraud


A man wanted by Chinese authorities for fraud was arrrested by Greek police on Wednesday in the southern Athens suburb of Alimos and will be extradited to China.

The 42-year-old Chinese national allegedly fleeced fellow Chinese of an estimated total of 3.6 billion euros after taking their savings and promising them annual returns of 20 to 40 percent.

He allegedly conducted the fraud via an electronic platform that he had constructed himself.