Chinese fugitive “Madame Zheng” has been arrested in Chiang Mai after an international manhunt over an alleged ฿20 billion cloud investment scam. Police say more than 4,500 investors were duped before her capture and pending deportation to China.
A Chinese woman accused of helping orchestrate a staggering ฿20 billion investment fraud has been arrested after Thai immigration police tracked her to a Chiang Mai hideout following an international Red Notice. Chinese authorities say 33-year-old Ms Zheng Yi, known as “Madame Zheng”, helped lure more than 4,500 investors into a bogus cloud server scheme with promises of monthly returns of up to 5%, before a cross-border manhunt ended with her capture, visa revocation and pending deportation to China as Thailand pushes its crackdown on foreign fugitives.
A Chinese woman accused of helping orchestrate a ฿20 billion investment fraud has been arrested while hiding in Chiang Mai. Immigration police tracked down 33-year-old Ms Zheng Yi, known as “Madame Zheng”, after Chinese authorities sought her capture through an international Red Notice. She now faces legal proceedings before deportation to China.
The Immigration Bureau announced the arrest on June 28. Pol Lt Gen Panumas Boonyalak, Commissioner of the Immigration Bureau and Director of its Anti-Trafficking Centre, said officers acted after receiving a request from the Chinese Embassy in Thailand.
Chinese authorities wanted Ms Zheng on fraud charges linked to a massive fundraising operation. As a result, immigration investigators began searching for her across Thailand.
Chinese fraud suspect accused of cheating 4,500 investors out of more than ฿20 billion in cloud scheme
The criminal case dates back to February 10, 2025. On that day, the Public Security Bureau of Shenzhen Municipality in Guangdong Province opened fraud proceedings against Ms Zheng.
Investigators accuse her of operating a cloud server investment scheme that deceived thousands of investors. Authorities estimate losses exceeded 4.243 billion yuan, or more than ฿20 billion. Notably, investigators identified more than 4,500 alleged victims.
According to Chinese authorities, Ms Zheng served as general manager of Shenzhen Juhang Cloud Storage Technology Co., Ltd. Investigators also identified BAI Chaoshun as the company’s legal representative. Together, they allegedly promoted an investment project based on cloud storage servers. The scheme targeted both companies and private investors.
Investors signed cloud server purchase contracts before completing service agreements and supplementary documents. Those agreements presented the project as a legitimate commercial investment. In addition, investors were promised monthly returns of between 4.75% and 5%. Such returns encouraged thousands to commit money. However, investigators now say the project became an illegal fundraising operation disguised as a genuine business.
Chiang Mai investigators trace fugitive to a condominium before revoking visa and making arrest without delay
Meanwhile, Thai investigators quietly traced the suspect’s movements. Pol Col Thawatchai Narinrat, Superintendent of Division 1 of the Immigration Bureau’s Investigation Division, led the operation.
His team established that Ms Zheng was living in Chiang Mai province. They then coordinated with investigators from Immigration Bureau Division 5 and officers from Chiang Mai Immigration.
Eventually, officers tracked Ms Zheng to a condominium on the Chiang Mai-Lampang Super Highway. They moved in after confirming her identity. Officers informed her that her Thai visa had been revoked. They then took her into custody without delay. Afterwards, she was transferred to Division 3 of the Immigration Bureau’s Investigation Division. Legal proceedings and deportation are now underway.
Separately, Pol Lt Gen Panumas said the arrest reflected the bureau’s continuing “3 No’s” enforcement policy. The campaign is built around “No Entry, No Stay and No Escape.” It targets foreigners involved in criminal activity or immigration violations. It also focuses on fugitives wanted overseas.
Immigration bureau expands visa crackdown while targeting fugitives, offenders and prohibited foreigners
As part of this policy, immigration officers continue to revoke visas where legal grounds exist. Particular attention is being given to student visas. Officers are checking whether holders genuinely attend educational institutions. If they do not, their visas are revoked.
On another front, immigration teams continue searching for foreigners prohibited from entering Thailand. Officers are also pursuing individuals classified as undesirable. The commissioner said nobody can evade the bureau’s scrutiny. Instead, investigators conduct enforcement operations every day across the country.
In response to growing cross-border crime, the bureau said cooperation with foreign governments remains a priority. Immigration officers continue identifying suspects wanted under overseas arrest warrants. Those investigations regularly lead to arrests, visa cancellations and deportations.
Immigration chief urges public reports as operations tighten the net around wanted foreign criminal suspects
Finally, Pol Lt Gen Panumas urged the public to report suspicious activity involving foreign nationals. Reports can be made through www.immigration.go.th. Information can also be provided to provincial immigration offices nationwide or through the Immigration Bureau hotline 1178.
He said, “Today, in line with the Immigration Bureau’s ‘3 No’s’ policy – No Entry, No Stay, No Escape – we are cracking down on illegal activities, revoking visas, especially student visas (if verified that the individuals are not genuinely enrolled in educational institutions), and deporting foreigners who violate regulations, such as those with arrest warrants from other countries, those prohibited from entering, or undesirable individuals.”
Drug mafia figures on the run from French police arrested on Wednesday in Immigration Bureau raid
Immigration Bureau officers discover suspected human trafficking ring using Bangkok as a transport hub
He added, “No one is allowed to escape the Immigration Bureau’s thorough scrutiny. We are rigorously and continuously checking for illegal activities by foreigners and achieving tangible results.”
The bureau said its investigation teams continue making arrests and denying entry to foreigners who breach immigration laws or are wanted abroad.
Join the Thai News forum, follow Thai Examiner on Facebook here
Receive all our stories as they come out on Telegram here
Follow Thai Examiner here
Further reading:
Drug mafia figures on the run from French police arrested on Wednesday in Immigration Bureau raid
Thailand closes its doors to dodgy foreigners and tourists who abuse their welcome through crime
60-day visa regime to be ended confirms Minister responding to rising industry security concerns
Tourism boss warns Thailand it is facing a Chinese blacklist if another security controversy erupts
Visa waiver scheme questioned with another China Crisis for foreign tourism driven by security fears
