FINANCE

U.K. Penalizes Dolfin Execs Over Visa Fraud Involving Chinese Fugitive

Published: Sep. 2, 2026 5:58 p.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

(London) — The U.K.’s financial regulator has fined and banned former executives of Dolfin Financial (UK) Ltd. for orchestrating a “visa loan” scheme that helped nearly 100 Chinese nationals — including a fugitive billionaire — fraudulently obtain U.K. residency.

Between 2016 and 2019, Dolfin enabled the Chinese clients to secure Tier 1 investor visas by paying as little as 400,000 pounds instead of the legally required minimum of 2 million pounds.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and Bloomberg - for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

UK regulator fined and banned Dolfin Financial (UK) Ltd. executives over a “visa loan” scheme helping nearly 100 Chinese nationals fraudulently obtain residency.
Between 2016–2019, clients paid as little as £400,000 instead of the required £2 million, netting the firm over £35 million.
Beneficiaries included fugitive billionaire Tian Wenjun; UK Home Office rejected renewals, and the Tier 1 scheme was scrapped in 2022.

AI generated, for reference only

Who’s Who

Dolfin Financial (UK) Ltd.: Dolfin Financial (UK) Ltd. was fined and its former executives banned by the UK’s FCA for a “visa loan” scheme. From 2016-2019, nearly 100 Chinese nationals, including fugitive billionaire Tian Wenjun, fraudulently obtained Tier 1 investor visas by paying as little as £400,000 instead of the required £2 million. The firm earned over £35 million.

AI generated, for reference only

What Happened When

Between 2016 and 2019：: Dolfin Financial (UK) Ltd. enabled Chinese clients to secure Tier 1 investor visas by paying as little as 400,000 pounds instead of the legally required minimum of 2 million pounds.