MONROVIA – Liberian authorities have launched an investigation into Yang Dan, a Chinese national accused of orchestrating a multi-million-dollar investment scam that allegedly defrauded several Chinese investors of more than US$4.5 million.
The probe follows a formal complaint filed on March 5, 2025, by Duke Global Investment Limited and a group of investors, who accuse Yang Dan of fraud, extortion, and misrepresentation. According to the complaint, Yang Dan lured investors into fake deals by posing as an authorized shareholder in Duke Global with the power to sell shares.
The investors claim that Yang Dan, using Chinese passport No. E41274259, misrepresented himself and illegally solicited funds for investments that either did not exist or were outside his authority. Among the most significant allegations is that he convinced a key investor, Luo Wei, to pay RMB 13.5 million (US$1.86 million) for a 22 percent stake in Duke Global. The investors assert that Yang Dan misappropriated the funds for personal use.
In what appears to be a wider scheme, the complaint accuses Yang Dan of establishing a fictitious company, Danwei Investment Limited, in Hong Kong to facilitate fraudulent transactions. Several other investors, including Shanghai Jinxin Network Technology Co., Ltd., claim to have transferred substantial sums for joint ventures and shares in projects linked to Duke Global, but these projects either did not exist or failed to materialize.
One incident involved Hong Yin and Jing Wei, who reportedly paid US$550,964 for shares in a water production plant. Upon arriving in Liberia, they discovered the project did not exist and that the supposed American partner, Sekou A. M. Dukuly, had no involvement. Another investor, Bin Gu, alleges that he was deceived into paying US$316,804.30 for an 8 percent share in the same non-existent project.
Duke Global and the defrauded investors are now urging the Liberian government to prosecute Yang Dan and recover the stolen funds. They argue that his actions were deliberate and criminal, accusing him of creating a complex web of lies to gain access to their investments.
“We view Mr. Yang Dan’s actions as criminal, for he knowingly, willingly, and intentionally concocted these deceptions,” the investors stated in their complaint.
