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Clifford Lo

A Hong Kong businessman and his son have surrendered to police over their role in the abduction of a cryptocurrency investor, the Post has learned.
The pair, accompanied by their lawyer, turned themselves in at Tai Po Police Station on Wednesday afternoon, a source familiar with the case said on Thursday.
Police arrested the man, 70, and his 30-year-old son on suspicion of false imprisonment and assault, according to the force.
The two suspects were still being held for questioning as of Thursday morning.
The insider said the two suspects were not the captors who bundled the victim, 55, into a seven-seater vehicle after dragging her out of her car at Tai Lau Leng Village off Po Shek Wu Road in Sheung Shui at around 8.45pm on Tuesday. She was freed about an hour later.
But he said investigations revealed the car used in the abduction belonged to the suspects’ family.
The source said the businessman allegedly invested about HK$15 million (US$1.9 million) in virtual currency around 18 months ago with the help of the woman, whom he had known through referrals.
He said preliminary investigations suggested the businessman was unable to get the money and the woman was sometimes unreachable.
During the abduction, the woman’s 43-year-old husband was attacked with a stun gun when he tried to intervene.
The couple suffered injuries mainly to their limbs and they were sent to hospital for treatment.
As of midday on Thursday, police were still searching for the four captors who abducted the cryptocurrency investor and assaulted her husband.
“We do not rule out the possibility that the four men were paid to carry out the job,” the source said.
Detectives from the Tai Po district crime squad are investigating the city’s second abduction in 32 hours.

On Monday, police rescued a 47-year-old woman in Ma On Shan about six hours after she was bundled into a car by two men in the city’s bustling Tsim Sha Tsui shopping district at around midday.
Police arrested two men, aged 34 and 39, and a woman, 53, in connection with the case within 12 hours after the abduction.
Inspector Chan Kwan-to of the Yau Tsim district crime squad said on Tuesday that the case was linked to a financial dispute between the victim and the 34-year-old man involving HK$100,000.
He said the abduction occurred about six hours before the 39-year-old suspect allegedly tried to use joss sticks and candles to burn the wooden door of the victim’s home, but in vain.
Police handled 10,122 reports of violent crimes last year, up by 14.6 per cent on the 8,830 cases logged in 2022.


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Crime in Hong Kong

Hong Kong businessman, son surrender to police over abduction of cryptocurrency investor

The two suspects were still being held for questioning as of Thursday morning. Photo: Sun Yeung

An insider says the businessman allegedly invested HK$15 million in virtual currency through the victim. Photo: Shutterstock

Manhunt under way after 4 men abduct Hong Kong cryptocurrency investor, attack husband with stun gun

Police are searching for four men who abducted a cryptocurrency investor. Photo: Sun Yeung

A source familiar with the case says preliminary investigations suggested a financial dispute over a HK$15 million investment in virtual currency was behind the abduction. Photo: Shutterstock 

A woman’s abduction from a busy Hong Kong street revives memories of past kidnappings, including when tycoons were targets for notorious gangsters

The dramatic moment when a woman was bundled into a van outside Stanley Prison in 2022 as a prison officer tries to intervene. Photo: Handout

Police arrested three people on Tuesday in connection with the abduction of a woman from the busy Tsim Sha Tsui shopping district a day earlier. Photo: Yik Yeung-man

Kidnap victim Queenie Rosita Law, the granddaughter of textiles tycoon Law Ting-pong, speaks to the media at the Four Seasons Hotel in Central after she was released by kidnappers in return for a HK$28 million ransom. Photo: David Wong

Notorious gangster “Big Spender” Cheung Tze-keung’s is escorted to a Chinese court in 1998. Photo: Handout

Hong Kong police arrest 5 alleged robbers after group storms into jewellery store just metres from scene of Monday abduction of woman

Hong Kong police arrested five suspects after they stormed the VIP Station store on Haiphong Road, an insider has said. Photo: Handout

Police said they are investigating if the gang had any accomplices and whether the suspects were connected to other robberies or crimes. Photo: Handout

VIP Shop in Tsim Sha Tsui. Police figures showed the number of robbery rose by 26 per cent to 97 last year, up from 77 in 2022. Photo: Jelly Tse

News

Hong Kong

Law and Crime

Investigations show seven-seater car used in victim’s abduction belongs to suspects’ family
Insider says businessman was unable to get HK$15 million he allegedly invested in virtual currency through victim, who was unreachable sometimes


Investigations show seven-seater car used in victim’s abduction belongs to suspects’ family.


Hong Kong police

Hong Kong businessman, son surrender to police over abduction of cryptocurrency investor

Investigations show seven-seater car used in victim’s abduction belongs to suspects’ family Insider says businessman was unable to get HK$15 million he allegedly invested in virtual currency through victim, who was unreachable sometimes

Investigations show seven-seater car used in victim’s abduction belongs to suspects’ family

Insider says businessman was unable to get HK$15 million he allegedly invested in virtual currency through victim, who was unreachable sometimes