By Jerromie S. Walters
Monroviaโ Liberian authorities have detained and charged Chinese national Yang Dan in a major financial fraud case involving eight victims and over $4.5 million in alleged stolen funds. The 39-year-old businessman was apprehended in Po River, Bomi County following complaints from defrauded investors.
According to police reports, Yang Dan, holding a 37% stake in Duke Global Investment Limited, allegedly posed as an authorized company representative to solicit investments. Victims, including Duke Global Investment Company itself, claim Yang convinced them to transfer a total of $4,581,031.85 (including Chinese Yuan conversions) to his personal Chinese bank accounts under false pretenses. Investigators state these transactions occurred without approval from other company shareholders.
The Liberia National Police’s Financial Crime Investigation Division confirmed Yang has been formally charged with theft of property under Liberia’s revised Penal Law. Notably, the suspect invoked his right to remain silent throughout questioning. The case has now been forwarded to court, marking one of Liberia’s most significant financial crime prosecutions this year involving foreign nationals.
Pundits say this high-profile case highlights growing concerns about international investment scams in Liberia’s developing economy. Financial regulators are urging investors to verify all business representations, particularly those involving cross-border transactions. As the judicial process begins, authorities emphasize this arrest demonstrates Liberia’s commitment to combating sophisticated financial crimes.
The investigation remains ongoing as authorities trace the allegedly misappropriated funds. This case follows increased scrutiny of foreign business operations in Liberia after several similar fraud allegations surfaced in recent months.
