Exclusive story – The generous antics of the 24 year old, Wong Ching Kit, makes everyone question about his source of wealth.
On 21st, June this year, Wong took over 10,000 shares from the shelf company ‘Coins Group Limited’ (2593689) (formed on 19th Oct 2017) from a shareholder named Lau Chi Kin. He has since become the sole shareholder of the company and strangely, he also became the owner of the Lamborghini on the same day. Is this a mere co-incidence?
His facebook page ‘Young master of bitcoins – Epoch Cryptocurrency’ (Click here for the link) started in January this year and has since accumulated more than 16,000 fans. He first showed his Lamborghini to his followers in front of his house in Sai Kung on 1st of July this year.
According to records filed with the Transport Department in Hong Kong, he registered the Lamborghini under a new licence and number plate.
Who is this Mr.Lau? According to information retrieved from the company registry, he is currently the director of five companies which include a finance company, a property trust fund management company, a financial consultancy firm, a charitable institution and an entertainment company. All these five companies are held under a holding company.
According to records, the holding company is suspected to be one of the two investment companies which used young pretty girls to sweet-talk men into paying to trade gold on the London market with low risks but high returns earlier this year. These female brokers posted many pictures of their cars and watches on social media to attract attention.
In July 2018, ten sweet looking and pretty female brokers were among 31 people arrested in a London gold trading scam valued at HK$19 million. Police cracked down on two investment companies and arrested suspects aged from 18 to 53.
The ‘Young master of bitcoins’ appears to be the front for Lau to re-invent and re-package his ‘get-rich-quick’ scam business using cryptocurrency trading as a replacement since it is not tightly regulated. He created a cryptocurrency known as FCC file coins (ERC-20) recently and attracted lots of unwary Chinese and local investors who have ZERO EXPERIENCE in trading cryptocurrency to take positions. According to filing records, filecashchain.co was registered in Panama recently in October while the trading platform domain (Buyfcc.com) is registered in Australia under a person known as Anson Lo.
On 6th of December, FCC claims to have successfully listed the company’s shares on the Hong Kong Stock Exchange (HKEX) despite the fact that there was no pre-IPO marketing to the public. The FCC bit coins continued to soar to new highs on the Cointiger cryptocurrency exchange (established in Singapore) and the daily trading volume reached an average of 1.4m despite its illiquidity. It seems like the syndicate behind FCC file coins has been artificially inflating the price to attract new suckers to take over their positions. Wong, dubbed ‘The Young master of bitcoins’ was hence recruited to be the new face of FCC. ‘A 24 year old successful ‘rags to riches’ man who rose to fame by investing in cryptocurrency’ – this gimmick is easy to sell to unsuspecting young Hong Kongers and Mainland Chinese as they can easily invest thousands of dollars via credit cards. The modus operandi is similar to the ‘pump and dump’ tactics deployed in stock trading where price is artificially manipulated before the crash. We predict the bubble will burst soon.
The syndicate leverages on the weakness of many young people who are struggling to make a living as most of them want the easiest way to become rich in this materialistic city. Morale of the story? Money doesn’t really fall from the sky because when it’s too good to be true, it isn’t true. Police should investigate and establish the link between the London Gold trading scam and this new cryptocurrency trading scam.