He has been wanted by Dongyang county police in Zhejang Province since June for involvement in some illegal investment scheme, local reports said, but no further information about the arrest and the crime was mentioned.

It is alleged that Xu Fa Gen, 41, and others mobilized about 100 million yuan ($14.14 million) from many people, luring them with promises of high interest rates.

The suspect is in custody and Vietnam's Ministry of Public Security will hand him over to the Chinese police, local reports said.