BEIJING - Li Dongzhe, one of the country's most wanted economic fugitives, has returned to China and turned himself in, the Ministry of Public Security said on Tuesday.

Li, 47, who will face trial for an alleged billion-yuan banknote fraud, arrived in Beijing from Canada in the past few days, the ministry said.

The ministry said that following increased deterrents and efforts to seek the arrest of suspects who had fled abroad, Li had decided to return.

The ministry declined to comment on whether Li will face fresh charges or the death penalty and on whether other fugitives related to the same case will be brought back.

Until last year, at least 580 of China's economic fugitives were still at large in foreign countries, with most fleeing to North America and Southeast Asia. Li is one of the top 10 fugitives facing charges of economic fraud, according to the ministry's economic crime investigation department.

In January 2005 it was discovered that almost 300 million yuan ($47.5 m) had disappeared from the savings account of the Northeast Expressway company at the Hesongjie branch of Bank of China in Harbin, Heilongjiang province. It was the biggest financial fraud case in Heilongjiang since 1949.

Police soon found that several companies, including Northeast Expressway, Chenneng Risk Investment and Heilongjiang Social Insurance Administration, were involved in the case and the amount of money involved was up to 1 billion yuan.

Li, former chairman of Beijing Oasis Investment Company, was a school classmate of Gao Shan, former president of Hesongjie branch of Bank of China. Li in 2000 then got to know Zhang Xiaoguang, a former executive of Northeast Expressway.

According to local media reports, Li offered a bribe of 7 million yuan to Zhang and purchased an Audi car and estate for his mistress. Zhang ordered Northeast Expressway to open account in Hesongjie branch where Gao then transferred most of the deposits to Li.

In December 2004, after transferring tens of million yuan abroad, Li and Gao escaped to Canada, the ministry said.

In January 2005 Zhang was detained by police for allegedly embezzling public funds. Later his wife committed suicide by jumping from their apartment building in Beijing. Shortly afterwards, Zhao Qingbin, former general manager of Chenneng Risk Investment Company, also jumped from a building and killed himself.

In February 2007, Canadian police arrested Gao and his wife in Vancouver because their tourist visas had expired.

Meng Qingfeng, head of the economic crime investigation department, told China Daily that the biggest hurdle to getting these fugitives back was the different judicial systems and the absence of extradition treaties between China and some Western nations.

"Trying to repatriate fugitives through other channels such as immigration laws is more complex and the procedures are so lengthy," he said.

China has signed extradition treaties with 37 countries and criminal justice agreements with 47 others, he said.

"China will adhere to relevant international conventions to protect human rights and other legitimate rights of fugitives in line with China's laws and regulations," Meng said. "We hope the fugitives still at large offer to turn themselves in and they will be treated in a just manner."

China Daily