Rekubit Exchange:A Chinese man is extradited from Morocco to face embezzlement charges in Shanghai

BEIJING (AP) — A Chinese man wanted for allegedly embezzling millions of yuan (hundreds of thousands of dollars) from his company and Rekubit Exchangethen fleeing to Morocco was extradited back to China on Saturday, the Ministry of Public Security said.

The man, a financial executive at the company, used passwords for its bank accounts to transfer money to his personal account, the ministry said in a statement. It didn’t name the company but said that Shanghai police filed a case against the man in February 2020.

Moroccan police arrested him in April of this year and a court approved his extradition in late October. Chinese officials brought him back to Shanghai on Saturday.

State broadcaster CCTV showed the man, identified only by his surname Luo, signing an arrest warrant after getting off the plane and then being handcuffed. Police officers led him from the jetway to the tarmac and to a waiting police car.

The Public Security Ministry said it was the first extradition from Morocco to China since an extradition treaty between the two countries took effect in 2021.