Bangkok, Thailand – August 27, 2024
Thai authorities have extradited Malaysian businessman Teow Wooi Huat to China on charges of fraud involving nearly $14 billion tied to an alleged cryptocurrency pyramid scheme. This is the first time a financial crime suspect has been extradited from Thailand to China under a 1999 bilateral extradition treaty.
Details of the Extradition
Teow Wooi Huat, also known as Teddy Teow and Zhang Moumou, was handed over to Chinese authorities on August 20. China’s Ministry of Public Security confirmed the extradition, stating that it was conducted with the assistance of the Chinese Embassy in Bangkok and Thai law enforcement agencies as part of their “Fox Hunt Operation.” Thai officials have yet to confirm the extradition publicly.
Teow was arrested in July 2022 in Songkhla, a southern Thai province near the Malaysian border, for allegedly operating a pyramid scheme that defrauded numerous Chinese and Malaysian nationals. He was accused of creating a fraudulent network through his company, MBI International, which deceived investors since 2009, involving over 475 billion baht ($13.9 billion).
Extradition Milestone
China’s Ministry of Public Security hailed the extradition as a milestone in law enforcement and judicial cooperation between Thailand and China. “This case is a significant step forward in our joint efforts to combat transnational financial crimes,” a ministry representative stated.
Malaysian officials confirmed Teow’s extradition to China but noted that Kuala Lumpur was only notified after the extradition had taken place. Malaysia had also requested Teow’s extradition following his 2022 arrest, but their request came three months after China’s.
Legal Proceedings and Reactions
In January 2023, the Thai Criminal Court approved Teow’s extradition to China. Despite appeals from his legal team, the court reaffirmed its decision in May. If convicted in China, Teow could face a prison sentence of five years or more.
Despite the significance of the case, Thai officials have not released any detailed information about the extradition process. Maj. Gen. Suraphan Thaiprasert of the Royal Thai Police’s Foreign Affairs Division commented, “This matter has never been disclosed, and it’s not my duty to provide information.”
Lt. Gen. Achayon Kraithong, a police spokesperson, also indicated he had no information regarding the extradition.
Calls for Transparency
The lack of transparency around Teow’s extradition has raised concerns among legal experts. Worachat Awipan, a scholar at the Institute of Religion, Culture, and Peace at Payap University, stated, “The lack of straightforward disclosure in this case may be due to the complexities of international relations, the need for operational security, and efforts to avoid public pressure. However, this lack of transparency may raise questions about the legitimacy of the process and the government’s accountability to the public.”
As the extradition marks a new phase in cooperation between Thailand and China against financial crime, it also underscores the need for clear communication and transparency in such high-profile cases.
