October 22, 2024

By Our Correspondent

Hong Kong law enforcement has apprehended three individuals linked to a fraudulent virtual currency operation that defrauded a local investor of HK$1 million.

The arrests followed a complaint from a 46-year-old man who reported being enticed into a series of transactions after engaging with someone impersonating a mainland virtual currency trader via a WeChat investment group.

As per police accounts, the victim participated in four transactions totaling around HK$1.4 million before being directed to an office in the Kwun Tong district for a fifth transaction. Accompanied by a woman who presented herself as an intermediary, the victim surrendered HK$1 million in cash along with his electronic wallet details in exchange for virtual currency.

However, the individual he interacted with allegedly instructed others to remove the cash from the location and falsely asserted that the virtual currency had been transferred to the victim’s wallet. Growing suspicious, the victim quickly reported the matter to the authorities.

Upon their arrival, police arrested a 56-year-old woman and a 53-year-old man at the scene. A further investigation led to the arrest of a 29-year-old man in the same area the following day. All three suspects, sharing the surname Choi, face charges of obtaining property by deception, with two of the arrested men being father and son.

The suspects have been released on bail and are scheduled to report back to law enforcement in mid-November.