MONROVIA – A Chinese national, Yang Dan, is facing prosecution after allegedly orchestrating a multi-million-dollar investment fraud scheme that deceived investors into transferring over $4 million to his personal account in China.
Yang, 39, was arrested on March 17 in Po River, Bomi County, by the Liberia National Financial Crime Investigation Division. His arrest follows a formal complaint filed by eight individuals and Duke Global Investment Company, accusing him of misrepresentation and financial deceit.
According to the complaint, Yang convinced the victims to transfer a total of $4,581,031.85, comprising both U.S. dollars and Chinese Yuan, under the pretense of lucrative investment opportunities with Duke Global Investment Limited. Though he holds a 37% share in the company, investigators say Yang misrepresented his authority, falsely claiming he had the power to secure new investors and manage funds independently. The transfers were made without the consent of other shareholders.
During questioning, Yang exercised his right to remain silent. He has since been charged with theft of property under Liberia’s revised Penal Law and has been forwarded to court for trial. Authorities have warned potential investors to exercise due diligence, as financial fraud cases continue to rise in the country.
