Hong Kong police arrest 3 after 10 residents duped out of HK$5.1 million over fake investment seminar tickets
- Victims tricked into bidding for fake tickets for virtual investment talk show meant for resale, police say
- Scammers also coaxed victims into depositing money into sham trading platform promising monthly return of 7 per cent interest, force adds
Hong Kong police have arrested three suspects after a fraud syndicate allegedly duped at least 10 residents out of HK$5.1 million (US$653,900) by luring them to bid for tickets to a virtual investment talk show to sell for a profit.
Police Acting Superintendent Man Cheuk-hei, an assistant Sau Mau Ping district commander, said on Tuesday that scammers also coaxed the victims into depositing money into a sham trading platform with the promise of a monthly return of 7 per cent interest.
Man said the three suspects were apprehended on Monday and last Thursday, with the trio comprising two alleged ringleaders and a core member of the syndicate.
The syndicate is believed to have set up operations in November 2022.
The arrestees were detained on suspicion of conspiracy to defraud – an offence punishable by up to 14 years in prison.
According to police, members of the syndicate first invited their targets to attend an investment seminar held at a grade A office in Kowloon Bay.
