14th January 2021 – (Hong Kong) The police received several reports from citizens earlier that they had participated in an investment seminar held by two local companies in a commercial building in Tsim Sha Tsui from January 2017 to May 2019 and were persuaded to invest in a resort development project in Malaysia. The companies claimed that the investment had low risk and guaranteed profit, and they could get several times of return in 1 to 2 years. However, the two companies subsequently closed down.
Police held a press conference this afternoon and stated that the victims paid by cash and bank transfer, but did not sign any agreement. The two companies involved suddenly vacated their offices in May 2019 and the victims lost their principal investments. The police have so far recorded statements from a total of 80 victims (aged 33 to 84) from 15 men and 65 women. They reported that salespersons, security guards, housewives and retirees, etc., involved HK$24 million, with losses ranging from thousands to HK$2 million each.
After an in-depth investigation, the police identified key members of the criminal syndicate. Yesterday (13th), 1 man and 9 women (27-64 years old) were arrested on suspicion of “conspiracy to defraud” and “money laundering”, and a large number of documents and mobile phones were seized. The arrested persons used personal bank accounts to collect the investment money from the victims. Bank records showed that the money was not used for investment in development projects. The police searched multiple premises at the same time, seized relevant documents and phone numbers. All arrested men and women have been released on bail pending further investigation and must report to the police in mid-March. As the operation continues, it is not ruled out that more people will be arrested. The police urge members of the public to clearly understand the nature and risks of the investment products before purchasing any investment products. If anyone has any doubts, they can call the police’s 24-hour anti-fraud hotline 18222.