Wu Muxing, 37, is accused of conspiring with others to defraud a total of 40 million yuan. [Photo: thepaper.com]

A fugitive on the list of China's 10 most-wanted fraud suspects has been arrested, the Ministry of Public Security said on Friday.

Wu Muxing, 37, is accused of conspiring with others to defraud a total of 40 million yuan (6.15 million U.S. dollars) via social media in two separate cases.

In Nov. 2015, Wu conspired with others to take 4.9 million yuan from a corporate accountant by impersonating the head of the company on an instant messenger. Acting on a tip-off, police in Shanghai managed to freeze only 2.8 million yuan.

While three of Wu's accomplices were caught, Wu fled.

In Dec. 2015, he was found to be behind another case in Shenzhen where the victim, also a company accountant, was cheated of 35 million yuan. The police managed to secure over 28 million yuan while apprehending 28 suspects. Wu remained at large.

The ministry has offered a reward of 50,000 yuan for information leading to the arrest of anyone on the most-wanted list.

On April 20, police caught Wu in his hometown of Quanzhou, Fujian province. He is now in custody, pending further investigation.