Police arrest seven over ‘HK$110 mn funding scam’
Police mentioned they’ve arrested seven of us for his or her suspected involvement in an funding scam interesting HK$110 million.
Officers mentioned the seven have allegedly duped no lower than 182 victims into investing in initiatives interesting low possibility however attracting high returns, similar to atmosphere up aged care properties.
They are saying the alleged scammers truly commenced work on some initiatives to acquire them seem legit, and gave the buyers tours to these sites.
The alleged victims had been educated they’d was firm directors, and might perhaps well honest peaceable revel in returns of as a lot as 70 percent, the pressure mentioned.
Many of the victims are mentioned to be retirees or experts who had been wanting to amplify their savings.
Regarded as one of them misplaced as a lot as HK$5.7 million.
The pressure entreated of us to be extra vigilant sooner than making investments.