Police arrest seven over ‘HK$110 mn funding scam’

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Police arrest seven over ‘HK$110 mn funding scam’

Police arrest seven over ‘HK$110 mn funding scam’

Police acknowledged they’ve arrested seven of us for their suspected involvement in an funding scam interesting HK$110 million.

Officers acknowledged the seven own allegedly duped as a minimum 182 victims into investing in initiatives interesting low likelihood but attracting excessive returns, corresponding to constructing elderly care homes.

They instruct the alleged scammers if truth be told commenced work on some initiatives to invent them seem first charge, and gave the traders excursions to these internet sites.

The alleged victims were urged they’d develop into firm directors, and may perchance maybe maybe maybe relish returns of up to 70 p.c, the capability acknowledged.

Quite quite a bit of the victims are acknowledged to be retirees or experts who were desirous to raise their financial savings.

One of them lost as a lot as HK$5.7 million.

The capability told of us to be extra vigilant before making investments.

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