'World's future richest man' arrested with valuables worth RM50 million

THE "world's future richest man", Zhang Jian, was found to be in possession of RM50 million worth of valuables when police arrested him at his posh mansion in Phuket on Monday.

According to a China Press report today, Zhang, whose YSLM (Yun Shu Mao) multi-level marketing business courted controversy in Malaysia several months ago, made a failed attempt to bribe the arresting party.

A source told the daily, Thai police were surprise to find such a huge amount of valuables in the house, including cash, jewelleries, land titles and bank passbooks.

Apart from arresting Zhang, 37, a Chinese national whose real name is Song Miqui, police also detained his assistant Gen Lianbao in the raid on the mansion. Police later picked up Zhang's wife Wang Wenfang (Yoyo), 29, in Bangkok.

The report said as the trio were in possession of huge amount of cash and fake travel documents, the Thai police are investigating them for money-laundering and falsification of travel documents.

Zhang, who was sought by the Malaysian Domestic Trade, Cooperatives and Consumerism Ministry for operating YSLM without a licence from the ministry and not registering the direct sales company with the Companies Commission of Malaysia, fled Malaysia in June.

In early August, he was reported to be undergoing a 100-day temporary ordination programme at a temple in Phuket.

The ministry's secretary-general, Datuk Seri Alias Ahmad, who said Zhang would be arrested on sight, after declaring YSLM illegal early July, told China Press on Wednesday the ministry has no power to bring Zhang to Malaysia for investigation as the power to extradite the suspect rests with the police.

"Yes, I have said before that we want to arrest Zhang Jian but he is now not in Malaysia. We don't have the power to extradite him."

A Malaysian police source said they have yet to receive notification from Interpol of Zhang's arrest.

"Malaysian police are not in a hurry. Even if they want to extradite Zhang, they will still have to wait for the Thai police to complete their investigation and prosecution before initiating the extradition process."

Meanwhile, it is learnt China has officially informed Interpol of a request to extradite Zhang, Wang and Gen, who are fugitives in China.

According to Thai daily The Nation, Zhang was arrested by local police over a pyramid scheme that reportedly duped people in China and Malaysia of six billion bhat (RM600 million) and three billion bhat (RM300 million) respectively.