Indonesia detains man wanted in China over $138 mn loan default
Indonesia detains man wanted in China over $138 mn loan default
Indonesian authorities said on Tuesday they had detained a Chinese real estate executive wanted over the default of a $138 million corporate loan.
The 58-year-old man, identified only as WZ, was arrested on Indonesia’s western island of Batam on Thursday after a request was received from the Chinese embassy in Jakarta, said Agus Waluyo, Indonesia’s immigration intelligence director.
The immigration directorate general said the man was a former president and director of a Chinese real estate company that had failed to repay 980 million yuan ($137.8 million) in loans.
The loan default led to a police investigation that identified him as a financial crime suspect, it said, and a wanted notice was issued after he fled China.
Agus said the man had moved around several countries in Asia since August before entering Indonesia on October 7.
“WZ has been detained for further investigation by the Directorate General of Immigration,” Agus told a news briefing, adding that Indonesian authorities had been in touch with Chinese government officials.
Related News
Japan warns citizens in China as Taiwan row deepens
Landslides in Indonesia kill 18, over 30 missing
Fury in China over Japan PM’s Taiwan comments
China’s property sector boomed as it was propelled by decades of rapid urbanisation and rising living standards.
However, its fortunes reversed in 2020 when Beijing imposed new regulations seeking to limit excessive borrowing.
Real estate woes have hit the Chinese economy heavily since then, and debt struggles have led to the collapse of major market players such as Evergrande.
Indonesia has detained and deported several other people wanted in their home countries in recent months, although the focus across Southeast Asia has been heavily on those involved in online scams.
AFP
Kindly share this story:
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: theeditor@punchng.com
Stay informed and ahead of the curve! Follow The Punch Newspaper on WhatsApp for real-time updates, breaking news, and exclusive content. Don’t miss a headline – join now!
Join The Punch Newspapers Channel
Stay in the know—fast. Get instant alerts, breaking headlines, and exclusive stories with the Punch News App. Download now and never miss a beat.
Get the Punch News App
URGENT UPDATE: Earning in Dollars made easy for Nigerians in 2025,
acquire ultra-premium domains for as low as $2000, profit as much as $15,000 in global market. Ideal for Civil/Public servants, Engineers, Doctors, Entrepreneurs, IT Experts/Software Developers, Top Bankers and more. 👉 Click here to start earning.
Top News
Aneke
Tension as Lagos street urchins stab Air Force officer
18th November 2025
Hannatu Musawa
FG receives Benin bronzes repatriated from US
Seyi Makinde and Nyesom Wike
PDP HQ showdown: Makinde, Wike factions hold rival NEC sessions today
1696539177231
Lagos bond subscription hits N310bn
punch footer logo
News
Sports
Metro Plus
Politics
Featured
Latest News
Business
Business & Economy
Opinion
Entertainment
Auto Famous
Barka Da Sallah
Barrier Breakers
Breaking News
Brexit
Columns
Corona
Anti-corruption
Biafra
Boko Haram
Case Review
Court News
Court Trivia
Campus Champion
Celebrity
City round
Interview
Panorama
Opinion
Special Features
Spice
Technology
Famous Parent
Education
Cartoon
Columns
Diaspora
Advertise
Subscribe
Affiliate Disclaimer
Online Casino Ohne Oasis
Search
Subscribe
punchng.com © 1971- 2025 Punch Nigeria Limited
About us
Advertise with us
Contact
Casino Non AAMS
