Hong Kong police arrest 6, bust cross-border syndicate that laundered HK$290 million
Syndicate believed to have conducted at least 46 scams between June 2023 and January, conning victims out of HK$13.66 million, police say
Hong Kong police have arrested six people in a crackdown on a cross-border money laundering and scam syndicate that allegedly washed HK$290 million (US$37.4 million) over the past year.
The syndicate was believed to have conducted at least 46 scams, conning victims out of more than HK$13.66 million between June 2023 and January this year, according to police.
Officers from the New Territories North regional headquarters arrested six suspects on suspicion of conspiracy to launder money in an operation code-named “Powervenue” on Wednesday and Thursday.
Police said three of the suspects were core members and three were stooge account holders. Four were men and two were women, ranging in age from 19 to 39. One of them a two-way permit holder from mainland China.
The group, which had been active since June 2023, was accused of carrying out at least 46 scams across the city, including online romance scams, loan fraud and investment schemes, police said.
Victims reportedly suffered losses amounting to HK$13.66 million.
The most significant single case involved a romance scam where a victim was defrauded of HK$1.5 million.