Police arrest seven over ‘HK$110 mn funding rip-off’

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Police arrest seven over ‘HK$110 mn funding rip-off’

Police arrest seven over ‘HK$110 mn funding rip-off’

Police acknowledged they’ve arrested seven of us for their suspected involvement in an funding rip-off involving HK$110 million.

Officers acknowledged the seven delight in allegedly duped no longer lower than 182 victims into investing in projects involving low threat nonetheless attracting high returns, comparable to developing aged care homes.

They insist the alleged scammers undoubtedly commenced work on some projects to make them seem respectable, and gave the investors excursions to these sites.

The alleged victims were told they’d change into firm directors, and would possibly per chance per chance honest rating pleasure from returns of up to 70 p.c, the ability acknowledged.

Most of the victims are acknowledged to be retirees or mavens who were desirous to make larger their savings.

Thought to be one of them misplaced as great as HK$5.7 million.

The flexibility urged of us to be further vigilant earlier than making investments.

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