A Chinese businessman was arrested in New York City for smuggling more than $4.5 million in cash into the United States over a two-year period.

Ng Lap Seng. Photo: NY Post.

Ng Lap Seng, originally from Macau and amassed his fortune through real estate, is accused of fraud and is being held without bail along with Jeff Yin, Ng's main accomplice.

Ng and Yin traveled to the United States 11 times between July 2013 and September of this year, each trip carrying between $200,000 and $900,000 in cash, AFP reported yesterday, citing an investigation by the US Federal Bureau of Investigation (FBI).

In June 2014, Ng arrived in New York carrying a briefcase containing $400,000 in cash, telling customs that he intended to use the money to buy art and gamble in Las Vegas. The FBI later discovered that Ng had lied. Ng is also believed to be involved in the Democratic Party's controversial campaign finance campaign under former President Clinton, but he has not been charged.

The arrests occurred during Chinese President Xi Jinping's first state visit to the United States. Beijing prioritizes bringing those accused of economic crimes who have fled abroad to justice.

Meng Jianzhu, secretary of the Political and Legal Affairs Commission of the Communist Party of China, emphasized the need to crack down on economic crimes and corruption during a preparatory meeting before Xi Jinping's trip to the United States. Earlier this month, Yang Jinjun, a former official accused of corruption who fled to the US 14 years ago, was repatriated to China.

The repatriation operation is being carried out under an agreement reached between Washington and Beijing in April, as the two countries do not have a formal extradition treaty.

According to VNE