Liberia: Investigation Launched Against Yang Dan for Alleged Fraud on Chinese Investors
Yang Dan, a Chinese national, faces investigation by Liberia’s FCID for allegedly defrauding over US$6 million from investors by falsely claiming authority to sell shares of Duke Global Investment Limited. Despite owning shares, he had not paid for them, thus lacking the right to sell. Investors are seeking justice and restitution.
The Financial Crimes Investigation Division (FCID) of Liberia has initiated an investigation into a Chinese national, Yang Dan, who is alleged to have defrauded over US$6 million from Chinese investors. The funds were reportedly solicited under the pretense of selling shares in Duke Global Investment Limited, a lawful entity incorporated in Liberia. A formal complaint was lodged against Yang Dan by several investors on March 4, 2025.
The complaint states that Yang Dan misled these investors, convincing them he was an authorized shareholder of Duke Global, and thus able to sell shares he did not possess. Although he was one of the original incorporators owning 37% of the company, he never fulfilled the financial obligations for these shares, lacking legal authority to sell or redistribute them.
Further investigations disclosed that Dan engaged in fraudulent actions by portraying himself as having the power to negotiate investments on behalf of Duke Global. He solicited significant sums from various investors, including RMB 17.2 million from Luo Wei and RMB 1.08 million from Chunmei Yin, among others. In total, the fraudulent transactions amounted to approximately US$4.58 million.
Yang Dan, alongside Liu Xiang, was incorporated into Duke Global on December 8, 2023, with Sekou A. M. Dukuly owning the majority at 43%. Dan’s schemes included misleading investors into believing in their stake in Duke Global, collecting funds for personal use without the knowledge of his partners.
Additionally, Yang Dan is alleged to have misled investors regarding a water production plant project in Liberia, promising high returns on investments that ultimately did not materialize. He was apprehended by the FCID on March 7, 2025, and remains in custody.
The affected Chinese investors, through their spokesperson Luo Wei, have voiced their trust in Liberia’s judicial system in hopes of retrieving their investments or seeing Dan face substantial penalties. Despite the setbacks due to Dan’s actions, they remain optimistic about the future of their projects in Liberia.
In conclusion, the investigation into Yang Dan illustrates significant fraudulent activities targeting Chinese investors under the guise of legitimate business dealings. The misrepresentation of his authority and the unauthorized solicitation of funds have led to substantial financial losses. The affected investors are hopeful for justice and recovery while expressing their confidence in Liberia’s legal framework.
Original Source: frontpageafricaonline.com
