NEW YORK (AP) - One of the world's wealthiest people - a Chinese real estate mogul at the center of a Democratic campaign fundraising scandal two decades ago - is incarcerated in New York City without bail.

NEW YORK (AP) One of the world's wealthiest people a Chinese real estate mogul at the center of a Democratic campaign fundraising scandal two decades ago is incarcerated in New York City without bail.

Federal authorities have charged Ng Lap Seng (EENG-LAP-SING) with lying about his plans for $4.5 million in cash he brought into the U.S. recently aboard private jets.

Incarcerated since Saturday, Seng failed to convince a magistrate judge Monday that he would return to court if released. Seng's lawyer says his client's arrest resulted from a misunderstanding.

In 1998, a Senate committee reported Ng sent over $1.1 million to a one-time Little Rock, Arkansas, restaurant owner, who forwarded hundreds of thousands of dollars to the Democratic National Committee. Seng visited the White House 10 times from 1994 to 1996.