$503716 Theft Reported At Wrap Tite of Solon

According to reporting officer, Timothy Barr; Suresh Bafna, representative of Wrap Tite Inc. located at 6200 Cochran Road, reported to the Solon Police Department a theft of a wire transfer.

Wrap Tite contracted with Xinie Huabao Plastic Machinery Co in Xinie, Hebei, China to build a machine for Wrap Tite.    Suresh Bafna corresponded with the company by email and visited China to inspect the machine.  The money for the transaction was to be sent to a hold company, the Combuy Trading Co. Limited (Xinie, Hebei, China) and to China Merchants Bank.  Wrap Tite wired $503,716 to China Merchants Bank.Wrap Tite was informed that they had not received payment for the machine.  They were advised to use Agricultural Bank of China and not China Merchants Bank.  The matter has been turned over to Detective Bureau.

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