Nigeria, May 7 -- Police in Nigeria said they have arrested and repatriated a Chinese national, Xu Qing, for allegedly masterminding a Ponzi scheme valued at more than $245 million in China.

In a statement on Wednesday, police spokesperson Anthony Placid said the fugitive fled to Nigeria after committing the crime.

Mr Placid said the operation that led to the Chinese man's arrest was carried out through the INTERPOL National Central Bureau (NCB) Abuja following a formal request from Chinese authorities, who declared the suspect wanted in Beijing over allegations of "large-scale illegal absorption of public deposits."

According to the police spokesperson, investigations showed that Mr Qing escaped from China to Nigeria on 5 November, 20...