A Chinese believed to be a financier of a big-time drug syndicate based in Binondo, Manila was arrested by agents of the Philippine Drug Enforcement Agency (PDEA).

PDEA director general Arturo Cacdac Jr., said that Changxin Wang is a member of the Binondo Chinese drug group that is responsible for the proliferation of illegal drugs in Metro Manila and other nearby areas.

PDEA agents served the warrant of arrest on Wang at the Department of Justice building in Manila.

Wang was arrested for violation of Section 5 (Sale of Dangerous Drugs), in relation to Section 26 (Conspiracy to Sell), Article 2 of Republic Act 9165, or the Comprehensive Dangerous Drugs Act of 2002.

The Chinese was at the Justice department to attend the preliminary investigation of his case of money laundering when agency pounced on him.

“Wang is in charge of the money laundering activities of the Binondo Chinese drug group, replacing Mark Tan, believed to be the group’s kingpin who himself was arrested at the Ninoy Aquino International Airport last July 2012,” Cacdac said.

According to reports, the drug group uses their bank accounts in receiving payments for illicit transactions nationwide prior to delivery of illegal drugs.

Cacdac said that Wang eluded arrest during an entrapment operation in Quezon City in February 2012. The operation resulted in the arrest of Clarence Chen Go, alias Tony Go and the confiscation of over two kilos of methamphetamine hydrochloride or shabu.